GEA, Kafalah to provide financial support to SMEs

The General Entertainment Authority (GEA), in partnership with the Small and Medium Enterprises Loan Guarantee Program (Kafalah), will provide financial support to SMEs of up to SAR 100 million to boost and empower the entertainment sector and stimulate economic growth, Chairman Turki Al-Sheikh said.

According to the Kafalah program, the product offers SMEs financing guarantees of up to 90% to support various entertainment industries.

The product targets micro, small, and medium-sized enterprises (MSMEs) in various entertainment industries based on the classifications of the GEA.

The maximum guarantee amounts to SAR 2.5 million for micro-enterprises, SAR 5 million for small enterprises, and SAR 15 million for medium-sized enterprises.