National Fund – Kuwait

National Fund

Kuwait National Fund provides loans upto 500K to small and mid-sized companies, especially start-ups in Kuwait, to boost their economy and promote entrepreneurship. This loan is primarily for Kuwaiti citizens. This fund finances up to 80% of the business capital for viable small and medium-sized projects proposed by Kuwaiti Nationals. This National Fund focuses on developing a comprehensive, collective, and pioneering ecosystem for entrepreneurs. It, therefore, helps establish them and, in turn, aids in boosting the economy at a larger scale. 

Basic requirements

To apply for this Kuwait National Fund:

• You need to be a Kuwaiti national, and your age should be not less than 21 years.
• In addition, the person applying for the loan should be involved in the project management of the business.
• The business capital should not exceed 500 thousand Kuwaiti money.
• The entrepreneur should employ Kuwaiti citizens only.
• All partners should be Kuwaiti nationals.
• The partners should contribute 20% of the project shares.

How it works

You can apply for the loan through the online portal of The National Fund for Small and Medium Enterprises Development or you can also reach out to us (Contact Us) or Email for help in availing the funding. We provide full assistance and guidance so that your chances of availing of the fund are maximized. You have to download, print and sign the stipulated funding forms.

After you apply, the designated office assesses each project diligently. The scrutiny process is completed between 45 days and three months, but this timeline can exceed for some projects. The files are handled with confidentiality and professionally by authorized personnel. 

Benefits

The Kuwait National Funds facilitates start-ups in the arrangement of work premises, through their own available spaces or their collaboration with different partners. The National Fund will help the applicant in turning their thoughts into profitable projects. They will provide incubation, coaching, mentorship, training, financing, and workspace. The duration of this program varies according to the business and can take up to three years.

They appoint an account officer to supervise the implementation of each start-up program during planning, incubation and speeding up phases. These account officers manage activities between the entrepreneur and the management of the National Fund.

The National Fund also provides advisory services to support the development of existing SMEs through the consultation program. Account Officers also help SMEs in identifying their own business development needs. Then the officers make a list of required services and assist in those services through National Funds’ consultants.

The Fund will partly pay for advisory services, which consist of many managements and professional topics to encourage business development of existing small and medium enterprises.

Procedure for getting the loan

You can get a loan for starting any production unit, service, or commercial project. Funds can also be given for starting any artisan and professional project. No interest is charged, but entrepreneurs should pay one-time fees, which is 2% of the funding value to the Fund for the services rendered.

Apart from the above, the authority also helps identify business, plan financial management and marketing management, and many more. The National Fund has recently launched a consultation program where consultants can enrol themselves to guide and help entrepreneurs.

In this context, we at Infinity help entrepreneurs, advise those entering the self-employment market, owners of stumbling projects and small and emerging projects. Furthermore, we guide and advise every potential entrepreneur about the specific needs of small and medium enterprises based on recent developments.

Infinity Management (IMCC) – Your Trusted Associates

As a management and business advisory consultancy service, we provide a proper path based on scientific and practical experience. We work with the project owners and evaluate their work. We at Infinity provide them with marketing strategy packages to help them implement and leverage our marketing insights. It also helps in achieving customer outreach, which will eventually boost both top-line and bottom-line growth.

In addition, to all other services, at Infinity, we also provide management advisory services that are built on expertise and a holistic outlook. This service focuses on finding the most significant and critical problems your business is facing and therefore identify the opportunities and unseen risks of the existing SME’s.

Our dedicated management advisory team will work with you to solve, strategize, discover growth opportunities, and make sure that your business performance gets back to being the best. This team will also prepare your business for the future.

We help you transform your business by adopting a customized approach to providing a solution to your business challenges. We commit to solving the business problem, and consider your pain areas when you apply for The Kuwait National Fund For Small And Medium Enterprise Development. So, what are you waiting for? Apply today for The Kuwait National Fund for Small And Medium Enterprise Development, get the roadmap from Infinity and grow your business. The National Fund has changed many lives for the better. You can also be among them.