New financing programme boosts SME exports
Published: 04:09 PM,Sep 23,2024 | EDITED : 08:09 PM,Sep 23,2024
The programme is open to all existing SMEs with export contracts or purchase orders from foreign companies.
MUSCAT: The Authority for Small and Medium Enterprises Development (ASMED) has launched a financing programme to support SMEs aiming to export their products to regional and global markets. The initiative seeks to boost national exports, enhance economic diversification, and increase the international competitiveness of Omani SMEs.
The programme is open to all existing SMEs with export contracts or purchase orders from foreign companies, provided they have insurance coverage from Credit Oman. It supports businesses that have previously exported, as well as those venturing into exports for the first time.
The programme offers financial facilities to cover production costs related to foreign invoices, contracts, or purchase orders, enabling SMEs to enhance product quality and expand their market reach. By providing necessary financial resources, the initiative aims to boost the volume of Omani exports, improve the competitive edge of local businesses on an international level, and strengthen Oman’s commercial position globally.
To qualify, entrepreneurs must complete ASMED-approved training programmes on project management and obtain insurance approval from Credit Oman. Applicants must also meet financial and credit standards to access funding.
ASMED has published a guide outlining loan disbursement procedures on its website and social media channels, detailing requirements for buildings, machinery, equipment, and vehicles. The guide aims to simplify the application process, promote transparency, and ensure compliance with disbursement standards, making it easier for SMEs to access financing and expand their export activities. — ONA
The programme is open to all existing SMEs with export contracts or purchase orders from foreign companies, provided they have insurance coverage from Credit Oman. It supports businesses that have previously exported, as well as those venturing into exports for the first time.
The programme offers financial facilities to cover production costs related to foreign invoices, contracts, or purchase orders, enabling SMEs to enhance product quality and expand their market reach. By providing necessary financial resources, the initiative aims to boost the volume of Omani exports, improve the competitive edge of local businesses on an international level, and strengthen Oman’s commercial position globally.
To qualify, entrepreneurs must complete ASMED-approved training programmes on project management and obtain insurance approval from Credit Oman. Applicants must also meet financial and credit standards to access funding.
ASMED has published a guide outlining loan disbursement procedures on its website and social media channels, detailing requirements for buildings, machinery, equipment, and vehicles. The guide aims to simplify the application process, promote transparency, and ensure compliance with disbursement standards, making it easier for SMEs to access financing and expand their export activities. — ONA