Financing program

Sharjah Entrepreneurship Foundation “Ruwad” aims through its financing program that support entrepreneurs and national projects to expand sme development in Sharjah.
This mission comes in line with the directives of the wise leadership in supporting national projects and calling young people to join the market.
It should be noted that the Foundation provides many benefits through DIRECT and INDIRECT financing programs.

Direct financing

Microfinance program
This program aims at projects that do not exceed the cost of about 300 thousand dirhams in the framework of granting financing facilities to establish new enterprises.
The Foundation grants the beneficiaries the following privileges:

  • The project owner shall be exempted from paying the installments of the financing during the first year of incorporation
  • The project shall be exempt from profits, interest or bank charges.
  • The owner of the project shall be granted a period of three years to pay the amount of the financing after the end of the first year of incorporation.

Financing program in cooperation with banks
The financing program, in cooperation with the banks, aims at projects that cost more than AED 300 thousand. In such program, the Foundation grants beneficiaries the following privileges:

  • The Foundation bears 25% of the total guarantees determined by the Bank on the applicant to fund the project.
  • The Foundation bears he percentage of bank profits on financing for the first year from establishing the project.
  • Project owner will be granted with a general grace period for the payment of principal installments of the Bank’s financing.

Indirect financing

This program is conducted through non-financial support (the needed support is granted to entrepreneurs by cooperating with government organizations to provide necessary exemptions and facilitates).

Exemption of projects for three years from licensing fees from the following government organizations:
– Sharjah Economic Development Department (SEDD).
– Sharjah Chamber of Commerce and Industry.
– Sharjah City Municipality.
– Sharjah Electricity and Water Authority (SEWA)
– Sharjah Directorate of Public Works (Registration Fees).

Exempting projects from bank warranty of the Ministry of Human Resources & Emiratisation.

Granting participated projects with number of privileges and 50% in the exhibitions held in Sharjah Expo Centre.

Supporting projects to obtain legal, financial and administrative consulting services at reduced costs through accredited bodies and institutions from “Ruwad” Foundation.

Support projects to obtain advanced technologies and provide advice as well as guidance through the partners of the Foundation of specialized international institutions.

Providing information and studies on the investment opportunities available in different sectors of small and medium enterprises in the Emirate of Sharjah.

Supporting projects with government agencies and the private sector to give priority to contracts and procurement for such projects.

General conditions for financing

Beneficiaries of financing programs must meet the following requirements:

Project owners should be UAE citizens (local)

The applicant shall participate in financing the project by at least 20% of the total investment costs of the project.

Provision of a detailed feasibility study about the project is a must.

Submission of an application to the Foundation with he required data and conditions for obtaining funding support is a must