Kafalah Issues $3.7B in Loan Support for Saudi SMEs in 2024

 KSA, 4 February , 2025 :  The Small and Medium Enterprises Loan Guarantee Program (Kafalah) provided SAR13.9 billion ($3.7 billion) in loan guarantees in 2024, supporting 5,346 small, medium, and micro enterprises. The program issued over 7,000 guarantees, with total financing exceeding SAR18 billion, a 17% increase from 2023.

Kafalah attributed the growth to enhanced initiatives, operational efficiency, and collaboration with government entities, aligning with Saudi Vision 2030’s economic diversification goals.

The program aims to strengthen SME access to funding while reducing lending risks for financial institutions through strategic partnerships and innovative financial solutions. It works alongside the Small and Medium Enterprise Bank under the National Development Fund to foster a supportive environment for SMEs in the Kingdom.