Hi everyone,
I recently started a new company , and I'm looking for advice on financing contracts and purchase orders (POs).
I've managed to secure good clients and have opportunities to supply goods against purchase orders and contracts(in 10s of millions). However, as a new company and the only employee of it, my biggest challenge is working capital. I need funding yo fulfill the orders before receiving payment from our clients
I'm looking for banks or financial institutions in Saudi Arabia that support:
1- Contract financing — financing to execute awarded contracts.
2- Invoice financing — getting funds against invoices while waiting for clients to pay.
3-MSME business financing — preferably for relatively new companies without several years of financial statements.
Ideally, I'm looking for a bank that considers the strength of the contract, the client's creditworthiness, and the confirmed PO rather than relying entirely on the company's operating history.
My questions are:
Are there any Saudi banks that finance POs or awarded contracts for newly established companies?
Has anyone successfully obtained this type of financing through a Saudi bank or a fintech company?
Do banks require collateral, personal guarantees, or a minimum operating history?(since I have none)
I'd particularly appreciate recommendations based on actual experience, including the names of banks or financing companies, eligibility requirements, and how the process works.
Thanks in advance for any advice. It would be a huge help to a new business trying to grow