Bankable Feasibility Study (2026): What Lenders and Development Funds in the GCC Check
A bankable feasibility study is one a lender can base a credit decision on: realistic assumptions, evidence behind every number, and a financing structure that shows how the debt is repaid. This guide explains what that means in practice, what GCC development funds ask for, and the checks that make a study pass or fail.
What “bankable” actually means
The term comes from project finance and mining, where a “bankable” or definitive feasibility study is the final, most detailed study a financier relies on before lending. For a GCC business, the practical meaning is simpler: the lender or fund can test every assumption and still see the loan being repaid.
- Not a pitch. An investor deck sells upside. A bankable study proves downside protection: cash flow, security and debt service.
- Not a template. Funds have publicly complained about studies copied from similar projects. Reviewers spot generic market sections and unrealistic ramp-ups quickly.
- Evidence-led. Prices, costs, capacity and demand are backed by quotations, market data, contracts or letters of intent, not by round numbers.
What GCC lenders and development funds ask for
Requirements change, so always confirm with the fund’s current checklist. As published at the time of writing:
- Saudi Arabia: SIDF (Saudi Industrial Development Fund). Industrial loan applications require a feasibility study and a separate financial model (النموذج المالي). Commercial banks lending under the Kafalah guarantee programme also expect a financing study and a spending plan. Arabic guide: برنامج كفالة.
- Qatar: QDB (Qatar Development Bank). QDB does not prepare studies. It offers a free feasibility study assessment and returns comments so the study becomes “bankable” before financing.
- Oman: Development Bank Oman. Its template treats the study as a financing-structure document: project cost; sources of finance split into equity, the bank’s loan, commercial-bank term loans and working capital; profitability; IRR; payback; sensitivity; break-even; debt-to-equity and DSCR. ODB accepts studies from its published list of certified feasibility offices, so check that list first. Labeeb is not on it.
- Kuwait: National Fund for SMEs. Applications include a business plan, an operational study and financial statements. Oversight reports have linked weak, inaccurate studies to losses and defaults, so reviewers look harder at assumptions.
- UAE: commercial banks and SME programmes. Banks usually ask for a business plan or feasibility study with projections, plus audited or management accounts for existing companies.
The bankable feasibility study checklist
- Executive summary: the project, total cost, amount requested, repayment source and key ratios on one page.
- Project and promoters: legal entity, licences, ownership, management experience and the promoters’ own equity.
- Market study: demand evidence for this location and segment, competitors, pricing and realistic market share.
- Technical study: site, capacity, equipment with supplier quotations, process, utilities and implementation timeline.
- Operations and staffing: organisation chart, salaries, localisation (Saudisation, Emiratisation, Omanisation) where it applies.
- Project cost and financing plan: capex, pre-operating costs and working capital, matched to equity, the requested loan and any other debt.
- Financial projections: 5 to 10 years of income statement, cash flow and balance sheet, built in a working model, not pasted figures.
- Investment returns: NPV, IRR, payback and break-even.
- Debt service: repayment schedule and debt service coverage ratio (DSCR) for every year of the loan.
- Sensitivity and risk: what happens if sales fall, costs rise or start-up is delayed, and how each risk is mitigated.
- Appendices: quotations, lease or land documents, licences, CVs, letters of intent and assumptions sheet.
Test your own numbers first with the free break-even, margin and ROI calculator.
Why feasibility studies get sent back
- Sales ramp with no evidence: full capacity in year one, or prices above the market.
- Missing costs: pre-operating expenses, working capital, maintenance, fees or VAT left out.
- Model and narrative disagree: numbers in the text differ from the spreadsheet.
- No debt service view: profit is shown, but not whether cash covers instalments every year.
- Generic market section: national statistics with nothing about the actual catchment, customers or competitors.
- Wrong format: the fund’s own template or section order was ignored.
Need a study prepared or reviewed?
Labeeb is a Dubai-based studio serving the UAE and GCC. We prepare feasibility studies, business plans and financial models in English and Arabic, and review existing studies against the lender’s checklist before you submit. We do not sell templates. Every study is built on your project’s own numbers and evidence.
Tell us the project, the lender or fund and your deadline, and we will reply with a clear scope and quote. See our feasibility study services, or read in Arabic: دراسة جدوى مشروع في السعودية.
Bankable feasibility study: common questions
What is a bankable feasibility study?
A feasibility study detailed and evidenced enough for a bank or development fund to base a lending decision on. It shows the project is viable and that its cash flow can service the debt.
How is it different from a business plan?
A business plan explains the business and strategy. A bankable feasibility study tests one specific project in depth: market, technical, financial and risk, with a financing plan and debt service analysis.
Does SIDF require a feasibility study?
Yes. SIDF’s published loan requirements ask for a feasibility study and a separate financial model. Confirm the current list with SIDF before applying.
What is DSCR and what level do lenders want?
The debt service coverage ratio is cash available for debt service divided by the loan instalments due. Each lender sets its own minimum, commonly above 1.2, so check the lender’s policy and show the ratio for every year of the loan.
Does the study need to be from an accredited office?
Some funds, such as Development Bank Oman, accept studies only from offices on their published list. Many banks and programmes do not have such a list. Ask the lender before you commission a study.