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Khalifa Fund launches seven funding products to support Abu Dhabi's entrepreneurial ecosystem

Khalifa Fund launches seven funding products to support Abu Dhabi's entrepreneurial ecosystem
7 Nov 2023 11:09

Khalifa Fund for Enterprise Development (Khalifa Fund) has launched funding products designed to provide UAE National entrepreneurs with medium term interest free loans.

The seven new funding products aim to fuel the growth and success of existing businesses across various priority sectors including healthcare, education, agriculture, information communications technology, tourism and manufacturing, fostering innovation and sustainability within the entrepreneurial ecosystem of Abu Dhabi.

The newly introduced funding products include; Financing Business Operating Capital, offering entrepreneurs the necessary financial resources to cover day-to-day operations such as salaries, inventory, overhead, and other short-term financial obligations, excluding rent; Financing Fixed Asset (vehicles and logistics), offering financing up to 80 per cent for a company's new logistics assets such as vehicles, boats and logistics machinery and Financing Fixed Asset (equipment and machinery), offering financing up to 80 per cent of an SME's new equipment or machinery.



The other funding products comprise; Financing Invoice Financing (receivables), a short-term working capital finance product designed to bridge working capital needs, allowing a company to receive up to 80 per cent of trade receivables payments before they are due under the agreed-upon terms; Financing Advance Payment Guarantee (APG), serving as a contract ensuring the fulfillment of contractual obligations through a performance guarantee bond.

Entrepreneurs can secure financing for 70 per cent of the APG through this product; Financing E-commerce Inventory, a digital retail funding product empowering E-commerce enterprises by providing immediate financial support by covering 80 per cent of the finished goods. It enables entrepreneurs to prepare an efficient inventory for peak seasons and Financing Agri-Tech, provides competitive financing solutions that facilitate the adoption of advanced technology solutions to foster innovation, sustainability, and growth within the agricultural industry.

Her Excellency Alia Al Mazrouei, CEO of Khalifa Fund for Enterprise Development, said: "The introduction of these new funding products represents a significant milestone for Khalifa Fund. We are extending our legacy as the biggest enterprise development entity in the region and reiterating our commitment to supporting businesses across high-level and priority sector industries. By further boosting Abu Dhabi's entrepreneurial ecosystem, we aim to cement the emirate's position as a thriving hotspot for innovation and entrepreneurship."

With the introduction of the funding products, Khalifa Fund aims to continue its commitment to fostering economic growth, enhancing employment opportunities and nurturing a dynamic and vibrant entrepreneurial landscape in the UAE.

Entrepreneurs who wish to apply to any of the new funding products, can submit their application via the Abu Dhabi Government Services platform, TAMM.

Source: Aletihad - Abu Dhabi
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