Abu Dhabi’s Khalifa Fund Unveils 7 New Funding Products
The seven products are designed to support the expansion of firms in a number of high-priority areas.
Abu Dhabi’s Khalifa Fund for Enterprise Development launched seven new funding products to back the country’s entrepreneurial ecosystem, announced Abu Dhabi Media Office.
The products are designed to support the expansion of firms in a number of high-priority sectors, like manufacturing, healthcare, education, information and communications technology, agriculture, and tourism.
The financing products comprise of Financing Business Operating Capital, which provides business owners with funds to pay for overheads, salaries, inventory, and other short-term expenses - not including rent; Financing Fixed Asset (vehicles and logistics), which provides up to 80 percent financing for a company's new assets in the logistics sector, such as cars, boats, and machinery; and Financing Fixed Asset (equipment and machinery), which provides up to 80 percent financing for a small and medium-sized enterprise's new machinery or equipment.
It also covers invoice financing (receivables), a short-term working capital product that bridges working capital gaps by enabling a business to receive payment for up to 80 percent of trade receivables ahead of schedule; and Financing Advance Payment Guarantee (APG), which functions as a contract guaranteeing contract fulfillment through a performance guarantee bond. With this product, entrepreneurs can obtain funding for 70 percent of the APG. It also covers financing e-commerce inventory, covering up to 80 percent of finished goods and financing agritechs that facilitate the adoption of technology solutions to foster innovation, sustainability, and growth in the agricultural industry.
Entrepreneurs can apply for any of the new funding products through the Abu Dhabi Government Services platform, TAMM.