Khalifa Fund for Enterprise Development (Khalifa Fund) has launched funding products designed to provide UAE National entrepreneurs with medium-term interest-free loans.
The seven new funding products aim to support the growth and success of existing businesses across various priority sectors including healthcare, education, agriculture, information communications technology, tourism, and manufacturing, fostering innovation and sustainability within the entrepreneurial ecosystem of Abu Dhabi.
“The introduction of these new funding products represents a significant milestone for the Khalifa Fund. We are extending our legacy as the biggest enterprise development entity in the region and reiterating our commitment to supporting businesses across high-level and priority sector industries. By further boosting Abu Dhabi’s entrepreneurial ecosystem, we aim to cement the emirate’s position as a thriving hotspot for innovation and entrepreneurship.”
According to the statement, “The newly introduced funding products include; Financing Business Operating Capital, offering entrepreneurs the necessary financial resources to cover day-to-day operations such as salaries, inventory, overhead, and other short-term financial obligations, excluding rent; Financing Fixed Asset (vehicles and logistics), offering financing up to 80 percent for a company’s new logistics assets such as vehicles, boats and logistics machinery and Financing Fixed Asset (equipment and machinery), offering financing up to 80 percent of an SME’s new equipment or machinery.”
The other funding products comprise; Financing Invoice Financing (receivables), a short-term working capital finance product designed to bridge working capital needs, allowing a company to receive up to 80 percent of trade receivables payments before they are due under the agreed-upon terms; Financing Advance Payment Guarantee (APG), serving as a contract ensuring the fulfillment of contractual obligations through a performance guarantee bond. Entrepreneurs can secure financing for 70 percent of the APG through this product; Financing E-commerce Inventory, a digital retail funding product empowering eCommerce enterprises by providing immediate financial support by covering 80 percent of the finished goods. It enables entrepreneurs to prepare an efficient inventory for peak seasons and Financing Agri-Tech, provides competitive financing solutions that facilitate the adoption of advanced technology solutions to foster innovation, sustainability, and growth within the agricultural industry.
With the introduction of the funding products, the Khalifa Fund aims to continue its commitment to boosting economic growth, enhancing employment opportunities, and nurturing a dynamic and vibrant entrepreneurial landscape in the UAE. The entrepreneurs who wish to apply to any of the new funding products can submit their application via the Abu Dhabi Government Services platform, TAMM.