<p>Under the joint efforts to support the SMEs owners according with Saudi vision 2030, Riyad bank signed a cooperation agreement with the General Authority for Small and Medium Enterprises “Monshaat” to launch franchise financing program، in the presence of CEO of Riyad bank Mister Tareq Abdulrahman Al-Sadhan and the governor of the general authority for small and medium enterprises engineer Saleh Ibrahim Al-Rasheed, and number of officials from both parties.</p><p>The program provides many products such as medium-term finance product to financing franchises and short-term product to finance franchising operations.</p><p>The amount of financing reached 3,000,000 SAR for micro, small enterprises and 5,000,000 SAR for medium enterprises, with pay plan up to five years and competitive profit margin.</p><p>In addition, Riyad bank provides unique services for SMEs for example; digital, point of sale, and salary services, these contributions are supporting the enterprises owners in order to upgrade their enterprises activities, raise the production efficiency, and push their competitiveness towards an added value of the local economy.</p><p>Riyad Bank support contributions are enabling small and medium enterprises to upgrade their productions efficiency. Riyad bank showed tremendous improvement in applying methods in practical new process that enhanced Riyad bank position as one of largest financial institutes, with 40% share of total financing among other banks.</p><p>Riyad Bank has a pioneering role in creating success stories, enabling the Saudi youth to convert their dreams to reality projects through all available resources which allow SMEs owners to achieve their goals.</p><p>Riyad Bank continuous to adopt long-term strategies in supporting SMEs while applying periodical evaluations in order to guarantee continuous development, efficiency and competitiveness.</p>