POS Financing Program

 POS Financing Program

13-07-2022
The POS Financing Program by Bank Albilad is offered to Micro and Small Enterprises to support their operational needs and expansions for up to 1.5 million riyals or 2.5 million riyals from some scopes , against cash inflow from point of sale devices for the last 12 months.



Features of POS financing program


  • Facilities up to 2.5 million riyals
  • Financing period up to 36 months
  • Grace period up to 6 months
  • Settlement on Monthly Instalments

General Requirements 


  •  Minimum 2 years in business, as per Commercial Registration
  •  Availability of POS devices from Bank Albilad or any other bank, for a minimum period of 12 months

​FAQs


What is the meaning of POS collection ?

It is the revenue from business through POS 

How to calculate the maximum limit of financing ?

the maximum limit of financing will be calculated by 20% of POS revenue and limited to SAR 2.5 million for period of 12 months 

What is the mechanism of Grace Period ?

The tenor is including 6 months Grace Period (first 6 months) as POS program is under LGP 

Does the program include fees?

Yes, between 1% to 2%

An example of how the POS Financing Program is calculated:


Type of Financing

POS Financing Program

Financing Calculation Method

Amount X Profit Rate/ 360 X No. of Days

Amount

  20% of cash inflow from point of sale devices for the last 12 months 

Profit Rate

4%

Profit Calculation Method

Annual

No. of Financing Days

180

Profit

 20,000.00

* Terms and conditions apply


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