Snoonu has introduced the Tamkeen: Growth Fund for Local Merchant Partners, a QR2 million initiative aimed at providing financial support to local businesses operating on its platform in Qatar. The program seeks to bolster the growth of small and medium-sized enterprises by offering upfront capital without interest, fees, or usage restrictions.

The fund allocates growth incentives ranging between QR5,000 and QR35,000 to qualifying merchants, determined based on sales performance. Repayment is structured to be seamless, with the advanced amounts recouped gradually over six months through standard payout cycles, eliminating the need for separate payments by merchants. Eligible businesses include a wide range of establishments such as restaurants, cafés, retail shops, and specialty stores that are active on the Snoonu platform.

Hamad al-Hajri, founder and CEO of Snoonu, emphasized that the initiative is designed to empower local entrepreneurs by providing them with flexible resources to invest in areas critical to their growth. He highlighted that the fund allows businesses to expand operations, upgrade equipment, increase inventory, reinforce staffing, or pursue new opportunities.

The selection process for funding is based on a transparent scoring model that evaluates merchants across three dimensions: their partnership history with Snoonu, operational performance, and demonstrated business growth. This framework aims to prioritize support for merchants who have consistently invested in improving their offerings and services.

Applications for the Tamkeen Growth Fund are currently open through September 12 and can be submitted via the Snoonu Merchant Portal. By providing accessible growth capital, Snoonu aims to reinforce the local business ecosystem in Qatar and foster economic development within the community.