Social Development Bank

What is Logistics Services Financing?

It is financing provided to freelancers who offer services using means of transportation, allowing them to obtain a vehicle suitable for their activity or service. The goal is to empower new segments of society through the following tracks:

Marine Transport Track
Financing aimed at supporting freelancers in marine transport by providing marine engines to install on boats for tourism trips, such as transporting people between islands and cities.

Refrigerated Transport Track
Financing aimed at supporting individuals in refrigerated delivery by providing vehicles equipped with refrigerators to transport medicines, flowers, food, and other products that require specific temperatures.

What vehicles are available on the bank’s website?

The vehicles listed in the catalog on the product page show the available ones based on dealership offers at the time. View Catalog

Freelance Product?

It is a product directed to freelancers, introduced in conjunction with the launch of the Freelance Platform by the Ministry of Human Resources. Its goal is to support self-employed individuals, promote the culture of freelancing, encourage it, and shift from consumer financing to developmental financing.

The Nafath Product supports the following tracks:

Cash Track:
Rural development professions
Real estate professions
Handicrafts
Delivery services
Accounting professions
Specialized professional services

Asset Track:
Ride-sharing
Guided transport
Delivery services
Logistics services

Do all vehicles appear to customers?

Vehicles appear based on the customer’s financial capability.

Can the application be canceled, and are there any fees for cancellation?

Before uploading documents and approving the application, cancellation can be done through the “Financing Information” tab.
After approval and payment of the seriousness fee, the fee is non-refundable if the contract is not signed.

Is there a discount on administrative fees?

25% discount for retirees on all freelance financing products.
50% discount for social security beneficiaries, persons with disabilities, and orphans under the Ministry’s care.

What is the bank’s procedure in case of non-payment?

The bank follows its approved collection escalation process before registering the customer as delinquent in “SIMAH”, up to the final legal procedures.

What does income mean for the applicant?

It refers to the employee’s monthly salary, including fixed allowances recognized under the freelance financing policy.

Why does the freelance license number not appear when applying?

It appears automatically due to a technical link between the Freelance Platform and the bank. If there is an issue, the customer is directed to the Freelance Platform to verify the status and validity of the license and report any recurring issues.

Can the vehicle type be changed after approval?

No, it cannot be changed after approval.

Can the data be modified after submission?

No, data cannot be modified after the application is submitted.

What is the nature of the financing? What is the amount and duration?

Asset financing of up to 300,000 ♦ with a repayment period of 60 months.

How to apply?

Through the Social Development Bank portal by completing the following steps:
Log in via Nafath Access.
Pass the credit check.
Provide the guarantee.
Select the vehicle.
Upload the required documents.
Approval by the concerned authority through the portal (government agencies - authorization, insurance, and vehicle delivery).

What is the vehicle delivery process?

After the vehicle is prepared by the supplier, the supervising branch will contact the customer to complete insurance procedures and sign the required documents. Vehicle delivery takes place through the same branch.

Can the vehicle be received from a different branch?

No, delivery can only be done through the branch registered by the client in the system.

Does having a commercial registration prevent obtaining freelance financing?

No, having a commercial registration does not prevent the applicant from obtaining freelance financing if they meet all requirements.

Is the product available for government and private sector employees?

Yes, available for both sectors, provided that the total income does not exceed 20,000 ♦, including fixed allowances recognized under the freelance financing policy.

How to cancel a freelance financing request for a deceased client?

A technical report must be submitted.

Are there annual fees on the financing amount or are they one-time?

There are no annual fees. A one-time administrative fee is included within the total financing amount.

Is a freelance license a requirement for financing?

It is required only for delivery services. For guided transport, it is not required.

Can freelance financing be obtained after closing an existing loan with the Social Development Bank?

Yes, according to the bank’s policies.

How long does it take to process a freelance asset financing request?

Four months.

Can the bank cover the insurance cost and include it in monthly installments?

The bank is currently studying this option. If implemented, an official announcement will be made.

What is meant by income for the applicant?

The employee's monthly salary includes the fixed allowances approved in the self-employment policy.

Why does the document number not appear when applying for self-employment financing?

It appears automatically because there is a technical link between the self-employment platform and the bank, and if the client faces a problem with the document, he is directed to the self-employment platform to verify the status and validity of the document and the problem of not being connected with the bank, and notify the self-employment department if it is There is an increase in the number of cases and reports

What is the nature of financing? How much is the financing? How long is it?

Cash financing of up to 120 thousand riyals for those licensed by the freelancing platform in the Ministry of Human Resources and Social Development, with a repayment period of 40 months.

Asset financing up to 300 thousand riyals and a repayment period of 60 months.

Is it possible to receive the vehicle from a branch other than the one registered in the system?

Receipt can only be made through the branch registered by the customer in the system.

What activities will be funded under the self-employment financing product?

Activities approved in the freelancing platform affiliated with the Ministry of Human Resources and Social Development and licensed by a freelancing document

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