Abu Dhabi: Khalifa Fund for Enterprise Development (Khalifa Fund) has introduced funding products for providing UAE national entrepreneurs with medium-term interest-free loans.
The seven new funding products are aimed at fueling the growth and success of existing businesses across various priority sectors, including healthcare, education, agriculture, information and communications technology, tourism, and manufacturing. The move will foster 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; Financing Fixed Asset (vehicles and logistics), offering financing up to 80 percent for a company’s new logistics assets; and Financing Fixed Asset (equipment and machinery), offering financing up to 80 percent of an SME’s new equipment or machinery.
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.
Ms. Alia Al Mazrouei, CEO of the Khalifa Fund for Enterprise Development, shared.
The other funding products comprise Financing Invoice Financing (receivables), a short-term working capital finance product designed to bridge working capital needs; and Financing Advance Payment Guarantee (APG), serving as a contract ensuring the fulfillment of contractual obligations through a performance guarantee bond.
Through the introduction of the funding products, Khalifa Fund aims to continue its commitment to fostering economic growth, enhancing employment opportunities, and nurturing a dynamic entrepreneurial landscape in the UAE.