1. What are the sectors financed by the Company?
The Kuwaiti Company finances all professional, trade, industrial and service sectors.
2. Does the company finance already existing projects?
Yes, the Kuwait Small Project Development finances already existing projects which intend to expand their activities. However, such projects are subject to specific criteria as applied by the company.
3. Does the company finance Franchise projects and does it require an initial approval
from the franchisor?
Yes, the company finances franchise projects. It also has a special unit for developing such kind of projects. The initial approval of the franchisor is not required, unless after obtaining the approval of the KSPDC on the project.
4. Does the company finance retiree entrepreneurs?
Yes, KSPDC finances retiree entrepreneurs.
5. Does a minimum financing amount apply?
There is not any minimum financing limit. Yet, if the project capital is less than KD 60,000, this project is considered as a micro project and the entrepreneur should participate in not less than 50% of the project capital.
6. Is it possible to accept the admission of other partners with the entrepreneur?
Yes, it is acceptable to have partners with the entrepreneur, yet the entrepreneur is responsible for the management and full-time work.
7. Should the entrepreneur be devoted to manage the project as full-time?
KSPDC does not require full-time devotion during the project study stage, however, it's required after obtaining the final approval on project establishment.
8. Is the goodwill amount included with the project capital?
Kuwait Small Project Development Company does not calculate the goodwill amount in the project capital.
9. Does the company require any guarantees from the entrepreneur?
Kuwait Small Project Development Company does not require any guarantees or pledges from the entrepreneur.
10. What is the type of legal entity of the project that is established between KSPDC and the entrepreneur?
The project is established as a limited liability company. However, for professional projects, an agreement contract shall be concluded between the entrepreneur and KSPDC.
11. Does KSPDC bear the responsibility for completing the establishment procedures?
KSPDC shall advise the entrepreneur to deal with one of the specialized offices for completing the transactions. However, this type of offices doesn't complete establishment procedures.
12. In addition to financing, what are the additional services provided by KSPDC to the project?
The company advises and supports the entrepreneur and provides the administrative, technical and legal assistance.
13. Can the entrepreneur settle the project before the elapse of the specific settlement period?
Yes, the entrepreneur can apply for a whole or part settlement by early payment.
14. What are the procedures applied in case the project losses?
The project is liquidated according to the settlement conditions applicable by Kuwait Small Projects Development Company.
15. What are the advantages that distinguish KSPDC among other companies that perform similar activity?
- KSPDC participates in 80% of the project capital.
- KSPDC is a partner in the loss and profit.
- Provide a salary for the project manager (entrepreneur).
- KSPDC grants incentives to the entrepreneur as a percent of the profits.
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