SIC and Lendo Launch SAR 200 Million Investment Program for Industrial SMEs

Lendo is a Saudi platform that helps raise money through crowdfunding, using loans that follow Islamic (Shariah-compliant) rules.

This new program is part of the Industrial Fund's plan to support the industrial sector by offering more ways to get funding. It includes options like financing purchase orders, paying commercial invoices, and covering outstanding payments.

The program helps industrial businesses overcome funding challenges by offering more flexible financing options. It keeps up with the fast changes in Saudi Arabia's alternative finance market.

This partnership is a good example of how the government and private sector can work together. Lendo uses its innovative technology and strong market knowledge to offer new ways of financing. This helps industrial businesses grow and expand faster and more efficiently.

In return, the Industrial Fund Company brings investment resources, experience, and strong partnerships to the program. The goal is to build trust in industrial sector financing and encourage more private sector involvement and support.

The program has already started, and factories or industrial companies can now apply for funding through the Lendo platform.

This program is a good example of how organizations can work together by combining strong support for the industrial sector with innovative, flexible technology. It helps small and medium businesses grow, boosts productivity, encourages innovation, and creates more jobs in the industrial field.

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