Zid Financing
Zid Financing gives your store funding from Zid's financing partner, Alraedah, based on your sales, and you repay it automatically from your Zid Pay payments. Open it from Financing in the sidebar. You apply, follow your request and track repayments on the same page.
Zid Financing is for companies and establishments in Saudi Arabia that accept payments with Zid Pay. It isn't available for individual, charity or non-profit (NGO) stores. It also needs a Zid plan that includes Zid Financing. Staff members need the permission to view financing to open the page, and to manage financing to apply.
What Zid Financing offers
The Welcome to Zid Financing banner sums up the offer:
Financing of up to 10 million riyals.
An annual profit margin of 10% to 25%.
Flexible repayment plans from 5 to 36 months.
Everything managed from your dashboard.
How you repay
Each installment is paid by deducting a fixed percentage of your electronic payments through Zid Pay. Other payment methods, such as bank transfer, cash on delivery and installments, aren't deducted. A minimum monthly repayment is set: if the deductions don't reach it by the end of the month, you pay the difference by bank transfer.
Check that you can apply
The Requirements to apply for funding card lists the conditions:
Zid Pay is activated as a payment gateway and your account is approved.
Your business has been operating for at least 6 months.
Your commercial registration is valid for at least 3 more months.
Zid also checks your store's age and average monthly sales. A store younger than 3 months can't apply yet, and stores that reach these sales levels qualify:
| Store age | Average monthly sales |
|---|---|
| 3 to 6 months | 40,000 riyals over the last 3 months |
| 6 to 12 months | 20,000 riyals over the last 6 months |
| 12 months or more | 13,300 riyals over the last 12 months |
Your store's subscription is checked too. Get started appears only when your store meets every condition and you have the permission to manage financing. Otherwise a message at the top of the page explains what's missing:
| Message | What to do |
|---|---|
| This service is available for companies or corporates in Saudi Arabia only. | If you're a Saudi merchant, update your store information. Otherwise, select Notify me, enter your email and country, and select Activate notifications to hear when financing reaches your country. |
| Sorry, your store is not eligible for financing with Zid Payments must be activated to apply for financing | Activate Zid Pay with the link in the message. |
| Dear merchant, you can complete the financing application after your Zid Payments account is approved | Wait for your Zid Pay account to be approved. The link shows its status. |
| Zid Financing requires your store subscription to be valid for at least 3 months | Renew your store subscription with the link in the message. |
| Sorry, your store is not eligible for financing about business operation time | Apply once your business has operated long enough. |
| Dear merchant, sorry your store is not eligible for financing about sales | Apply once your store's sales reach the required level. |
Apply for financing
The Journey to apply and get funding card shows the stages: submit the initial requirements, receive and review the funding offer, submit the final requirements, sign the contract, and receive the deposit.
Select Get started. The Activate financing page opens.
Under Financial store performance, review the plans your sales qualify you for: each shows an Amount and a Period in months.
Fill in the form:
Field Rules Store owner name Required, filled in from your Zid Pay account Mobile Number on Absher Required Funding amount required The amount you want, in Saudi riyals Appropriate payment period Required; choose the number of months Agree to all terms and conditions Required Your store performance data (your Zid orders for the last 12 months) is shared with the financing company. Select Download the PDF file to review it first.
Select Submit finance application.
You see Dear merchant, the financing request has been received successfully. The partner reviews your requirements and contacts you by phone.
Follow your request
Your request moves through these stages. Each time you open Financing, the page shows the current one, and Zid also tells you by email when your request moves on, for example when you qualify, when changes are needed and when the amount is deposited.
| Stage | What you see and do |
|---|---|
| Under review | Dear merchant, the financing request has been received successfully. Nothing to do; the partner contacts you. |
| Qualified | Dear merchant, we congratulate you on qualifying for one of the following financing plans, with each plan's Funding amount, Funding duration, Annual profit margin and Percentage of deductions from operations. Select Continue with financing application. |
| Funding offer | Under Download the price offer, download the Offer price, sign it, keep the signed and stamped paper copy for the financing company, and select Submit finance application. |
| Final requirements | Download the Merchant data form, sign it, have it certified by the Chamber of Commerce, upload it and submit. To certify it, sign in to your business's account on the Chamber of Commerce website and certify the file there. |
| Contract | Download the Financing contract and the Contract signing guide, review them, and choose how you meet the partner in Select meeting type: In-person meeting or Attend meeting at the headquarters of Al-Raedah. Hand over the signed documents when you sign. For a remote meeting, send a printed and signed copy of the contract to the financing company's headquarters. The amount is deposited into the bank account shown in the message within two working days of signing and delivering the requirements. |
| Needs changes | Dear merchant, the financing request could not be completed due to these reasons: followed by the reasons. Update the requested data or documents and select Continue Finance Application. |
| Not eligible | Dear merchant, We are sorry your store is not eligible for financing because: followed by the reasons. You can apply again later from the Financing page. |
Fix a request that needs changes
When the partner asks for changes, the page lists the reasons and, below them, only the fields you need to correct. They can include the Commercial Registration number, a copy of your commercial registration, the Copy of the national address certificate, the owner's ID, the Simah endorsement (download it from the link under the field, sign it and upload it) or, for companies, A copy of the articles of incorporation.
Upload documents that belong to the business and owner approved in your Zid Pay account: the ID must be the owner's ID on that account. Then select Continue Finance Application.
Cancel your request
Select Cancel financing application (or Cancel application).
Choose a reason: A higher financing amount is needed, Increase in profits, Short repayment period, No need for financing at present, or Otherwise and write it in Please provide us with the reason.
Select Confirm.
You see The financing request has been canceled successfully, and you can apply again later.
Track your repayments
Once the amount is deposited, Financing opens Financing information. The Finance payment details card shows:
| Item | Meaning |
|---|---|
| Paid off | What you have repaid so far, in Saudi riyals |
| Remaining amount | What you still owe |
| Default amount | Overdue amounts not paid on time |
| Term of financing repayment | The estimated months left to finish repaying |
| Funding amount | The amount you received |
| The date of depositing the financing amount | When it reached your account |
| Bank account | The account it was deposited into |
| Financing contract | Download your signed contract |
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