SME Bank, in collaboration with Aramco Taleed, Aramco’s SME development program, and fintech firm Manafa, has launched new financing solutions aimed at expanding funding access for small and medium enterprises (SMEs) across Saudi Arabia.
The initiative targets SMEs operating within Aramco’s ecosystem and the Kingdom’s industrial sector, including projects, manufacturing and services. The partners said the financing solutions will improve liquidity, enhance operational efficiency and help businesses address funding challenges through faster access to capital.
Financing opportunities within the Aramco ecosystem are projected to reach around $399.87 million (SAR 1.5 billion) over the next five years. The program will offer a streamlined financing experience, simplified procedures and flexible repayment plans of up to 12 months in compliance with Sharia principles.
The financing solutions include working capital financing, invoice financing, payroll financing and purchase order financing. The collaboration builds on the strategic partnership between SME Bank and Manafa, which was established in 2023 to support the Kingdom’s innovative financing ecosystem and expand SMEs’ access to modern funding solutions.
SME Bank said it has been among the first banks and development funds to support non-traditional financing through its Agency Financing Program in partnership with fintech companies. The program has facilitated more than $266.58 million (SAR 1 billion) in financing through over 720 financing opportunities.
Ibrahim bin Hamad Al-Rashid, SME Bank CEO, emphasized that the collaboration with Aramco Taleed and Manafa represents a step change in facilitating SMEs’ access to digital funding solutions. He noted that the bank is committed to enabling SMEs’ growth by facilitating access to suitable funding, providing guarantees, addressing operational challenges, and enhancing efficiency, thereby supporting sustainability and strengthening competitiveness.
Jamil J. Al Bagawi SVP – Diversified Industries – Aramco
“Through the Aramco Taleed program, we continue to deliver unique solutions for local SMEs. Through collaboration, we aim to enable the local SMEs associated with Aramco’s ecosystem to gain access to funding that supports their operational needs. These funding solutions can enhance the ability of SMEs to execute their operations smoothly and fulfill their commitments to Aramco across the projects, manufacturing, and services sectors.”
Abdulaziz Al-Adwani, Manafa CEO, said that, “We are delighted to partner with Aramco Taleed and SME Bank, and we’re proud to contribute to strengthening the SME ecosystem in Saudi Arabia. Through these digital funding solutions, we are providing a seamless experience that enables SMEs to access tailored funding quickly, helping them overcome financial challenges and supporting their long-term sustainable growth.”
The partnership also provides a range of financing products tailored to SMEs, including Working Capital Loan, Supply Chain Financing, Revolving Limit Loan, Term Loan and E-commerce Loan. The initiative supports the goals of Saudi Vision 2030 by promoting financial innovation, broadening financing options for SMEs and improving access to diversified funding solutions.
