Access to finance is one of the most prominent drivers of economic growth. However, it is still one of the biggest challenges facing medium, small and emerging enterprises. In the Kingdom of Saudi Arabia, these establishments form the backbone of the economy, as they represent 99.5% of all companies, It provides more than 60% of private sector jobs, according to the “Monshaat” Authority. Despite this pivotal role, obtaining fast and flexible capital remains an obstacle for these enterprises.
The traditional credit system was not designed to accommodate the speed of work or the nature of the structuring of small and medium enterprises today. Rather, it relies on lengthy procedures, manual verification, and strict documentation requirements starting with complete financial statements and ending with official guarantees. For the majority of small enterprises in the Kingdom — especially those that are still building their operational record — these requirements lead them to a dead end.
A report issued by the World Bank indicates that more than 40% of small businesses in emerging markets are unable to obtain formal funding. In the Kingdom, initiatives such as the Bank of Small and Medium Enterprises and the “Kafala” program have partly improved the situation, but the bulk of funding is still directed towards medium and large enterprises. In fact, the percentage of loans granted to small and micro enterprises does not exceed 27%, although it represents the largest segment of the total number of establishments.
This reality highlights a deeper structural imbalance: most financing models still rely on traditional credit rating, which is why many small, medium and micro enterprises do not have sufficient data to meet its requirements. The result? Real opportunities for growth, innovation and job creation are lost. At a time when the government aspires to raise the contribution of small and medium enterprises to GDP to 35% by 2030, as part of the goals of the Kingdom's vision.
But this gap is no longer technically inevitable, but rather a solvable challenge... The solution lies in data.
Artificial intelligence: the new driver of business credit
Artificial intelligence has the potential to radically transform the financing landscape of small and medium enterprises by reshaping creditworthiness criteria and reviewing who is eligible for funding.
Instead of relying on traditional documents alone, it is possible today Analyze thousands of data in real time From the transaction log to the movement of the supply chain, to build flexible credit records that are responsive to the behavior of the enterprise.
One of the qualitative jumps lies in the ability of artificial intelligence to Explore the inherent value of documents that have always been marginalized Especially in the Saudi market, where many small companies lack official financial statements, but have a very important document: VAT registration certificate.
What used to be just a tax compliance document is now a key pillar in the inclusive finance landscape. Artificial intelligence systems are now able to scan the VAT registration certificate, extract pivotal identifying data such as commercial registration number, legal entity, and tax number, and then match it immediately with the approved official records. When this data is combined with additional sources such as: the pattern of electronic invoicing or the behavior of payment towards suppliers, it becomes possible to build an accurate record, even for entities that do not have a previous credit record.
According to the World Economic Forum, Artificial intelligence is expected to reduce funding barriers for small enterprises by more than 30% over the next decade. In a promising market such as the Kingdom of Saudi Arabia, the opportunity to finance small and medium enterprises is estimated at 67 billion dollarsThis transformation is not only a technological innovation, but also reflects potentials economical Enormous patriotism.
From verification to speed: urgent in the lead
on urgent We experienced this transformation directly and confidently. Our platform is based on Artificial intelligence techniques in reading documents and decision making models, to enable the immediate processing of VAT certificates, eliminating one of the most prominent obstacles in the approval of commercial credit applications.
Instead of waiting days or even weeks for a manual review, our system performs an accurate reading of the VAT certificate and verifies it within a few seconds. It extracts key data directly from the document, matches it with official records, and then conducts risk analysis automatically and immediately. Thus, thousands of establishments throughout the Kingdom can - Through the VAT certificate only, access to an immediate credit limit of up to 100,000 Saudi Riyals.
this It is the foundation on which the service is based Urgent Express, our fastest and most streamlined solution. Only a VAT certificate is required from the establishment. The entire process is implemented digitally, from beginning to end.
By integrating artificial intelligence, knowledge of the local market, and compliance with regulations, we are keen to urgent Every entity registered in VAT in the Kingdom should have a clear path towards fast and flexible funding, whether for the purchase of building supplies, equipping offices, or preparing for peak seasons.
The promise of artificial intelligence in the financial sector does not lie in merely automating decision-making, But in opening doors that have always been closed Especially in front of enterprises that form the backbone of the real economy in the Kingdom.
And in urgent We are proud to contribute to creating this future... One immediate approval after another.
