Saudi-govt Kafalah grants $115 million in loans to women-led enterprises

RIYADH: The Small and Medium Enterprises Loan Guarantee Programme (Kafalah), a government initiative to finance small and medium enterprises, granted SR432 million ($115 million) of loans to 456 businesses led by women in the first-half of 2021, Arab News reported.

Businesses in the central region of Riyadh got the lion’s share, as they received the highest Kafalah support, with 151 establishments accounting for 33 per cent of the total, taking SR178 million in financing. This was followed closely by the Makkah region with 115 establishments, or 25 per cent, receiving SR97 million.

The Eastern province came third, with 102 establishments, or 22 per cent, receiving SR99 million.

The Kafalah programme spans several business sectors, including wholesale commerce, catering and hotels, manufacturing industries, and administrative and support services.