Digital Brokerage is a modern technology that helps facilitate commercial and financial transactions between different parties, and it includes a number of digital operations and tools that are used to facilitate these operations, Digital brokerage includes many operations such as electronic payment, bank transfers, financing services, and other digital business operations, Digital brokerage is one of the modern methods that helps in developing and improving commercial and financial processes, saving time, effort, and costs, It also helps in improving the quality of services provided to customers and providing security and protection.

• Smart Interaction for Digital Brokerage Company SIDB (Qardi Platform) provides digital brokerage services for financing products such as SMEs financing and Consulting services.

• SMEs need financing for many reasons including:

  • Start-up: SMEs typically require start-up funding to cover initial expenses such as product or service development, market research, legal and government fees, and operational costs.
  • Expansion: SMEs may need funding to expand to cover expenses such as buying equipment or real estate, advertising, marketing, or research and development.
  • Working Capital Financing: SMEs may need funding to maintain working capital, which includes cash, inventory and accrued accounts, Funding can help cover day-to-day expenses such as employees’ salaries and other operating expenses.
  • Mergers and acquisitions: SMEs may need financing to buy or merge other companies. Financing can help cover the cost of buying assets and other companies.
  • Restructuring: SMEs may need funding to restructure their business, such as debt restructuring or financing transformation plans, Funding can help ensure business continuity.

  In addition to these general reasons, there are some specific reasons why SMEs are more vulnerable to the need for financing than large companies, These reasons include:

  • Size: SMEs tend to be smaller than large companies, meaning they have fewer financial resources.
  • Risks: SMEs face higher risks than large companies, meaning they may need funding to cover these risks.
  • Growth: SMEs tend to grow faster than large companies, meaning they may need funding to cover this growth.

  Financing can be a powerful tool for SMEs to achieve their goals. However, it is important to understand the risks and benefits associated with funding before applying for it, Commercial financing and credit facilities can only be useful when used for good accounting productivity purposes. The use of such funds for personal reasons or not belonging to the activity in connection with it will ultimately affect the activity’s cash flows resulting in non-obligation to pay the dues and faltering.

For SMEs to receive financing, they must be eligible, Eligibility criteria depend on the financier, but usually include:

• Legal Registration: The business must be legally registered and have certificates and licenses. For example (commercial registry, national identity, incorporation contract, certificate of Soa ‘us, Zakah certificate) and depend on the requirements of the financing entities.
• Financial criteria: The business must meet the minimum financial standards set by the financing entity, To name a few (activity age, sales volume, credit record, financial statements)
• Supporting documentation: The financing entity may require SMEs to provide other supporting records.

If the facility is not eligible, it will be told, as well as tips on how to improve its chances of obtaining funding.

In addition to the above documents, QARDI Platform may require you to submit the following documents:

• Bank statement: Bank statement must include a period of not less than 12 months.
• Future financial projections: Financiers may ask you to provide future financial projections, especially if you are applying for long-term Financing products.
• “Some financing products may require additional documents, such as point-of-sale reports, property deeds, etc.”

How to submit documents

You can submit the required documents through qardi.sa After creating your account on the platform, you can upload the required documents.

Document Preparation Tips

It is important to ensure that the documents you provide are complete and correct. All information in the documents must be clear and readable.

Here are some tips to prepare the required documents for financing through QARDI Platform:

• Make sure the documents are complete and correct, All documents must contain all required information. All information in the documents must be clear and readable.
• Upload documents in readable formats, Documents should be in readable formats by PDF software.
• Name the documents correctly, Each document must have a name reflecting its content.

Timely repayment of your loan / credit facility is very essential for establishing credit worthy track record with lenders and will open bigger doors for financing opportunities for your business. 

On the other, non-repayment of the loan might trigger legal action against you as shareholder and your business which will cause disruption to the business and may lead to its closure eventually.

Most have the option to autopay which significantly reduces the headache on your end, The lender will automatically withdraw your minimum payment from your current account each month at the agreed date (the time will depend again on the lender, some are quarterly, semiannually, annually).

Establish a payment plan: Before applying for financing, establish a payment plan that ensures that you repay the financing on time.

• Find the best offers: Compare offers from several financing providers before making your decision.
• Understand the terms and conditions: Make sure you understand all the terms and conditions related to the financing before signing for it.
• Be prepared for emergencies: You may encounter unexpected circumstances that make it difficult for you to repay the financing. In this case, it is important to be prepared to deal with these situations.