DOHA: Aiming at helping Qatari entrepreneurs with innovative ideas set up businesses, Social Development Centre (SDC), a member of Qatar Foundation, yesterday invited applications to offer interest-free financial assistance (50 percent of project’s capital) to eligible candidates under its ‘Rasameel Fund’ services.
According to a statement, The programme offers a range of support services that include providing flexible financial loans without interest, guidance and counselling services, training services, and marketing support for new projects. But under the funding scheme, the applicants must provide the remaining 50 percent of the project’s capita.
In 2013, Rasameel provided loans to a total of 32 ambitious entrepreneurs.
The programme aims to increase approved loan applications to 300, training and loan services to 200 applications and approving a minimum of 50 loans in 2014.
This is part of SDC’s plan to support the development of the private sector in Qatar, in line with National Vision 2030.
Hamad Al Saffar, a specialist in entrepreneurial projects at SDC,said: “Rasameel fund aims to provide a full range of services for aspiring Qatari entrepreneurs who want to start their own business and need funding support to achieve their goals. We at SDC are proud of our continuous efforts to provide aid and support to Qatari entrepreneurs through our many different programs that focus on training, professional and business development, as well as empowerment.”
The Rasameel fund was established in 2003 to provide funding support to enterprising Qataris intending to pioneer new initiatives and business ideas. It has been designed to help entrepreneurs achieve stability and profitability.
The Peninsula
