How to get a business loan in Dubai
Need a financial boost for your business in Dubai? You’re not alone. Many entrepreneurs in this bustling city are turning to business loans to fuel their growth.
Dubai’s financial landscape offers plenty of options. From traditional bank loans to fintech companies offering finance products, there’s something for every business size and stage.
The best part? Dubai’s business-friendly environment makes the loan process smoother, banks and finance companies always try to understand the business need and ready to support the businesses with best possible solutions than you might think, With competitive Interest rates and flexible terms.
Feeling overwhelmed about where to start? Don’t worry.
In this guide, we’ll break down everything you need to know about getting a business loan in Dubai. We’ll cover:
- Benefits of Business Loan in UAE
- Eligibility Criteria for Business Loan Application in UAE
- Documents Requirement for Business Loan Application in UAE
Benefits of Business Loans in the UAE
- No Collateral Needed In the UAE, some business loans don’t require collateral. This means companies can get the funds they need without risking their valuable assets. It’s a flexible option that helps businesses grow and meet their needs with minimal paperwork.
- Tailored Loan Options Business loans in the UAE can be customized to fit each company’s specific needs. Lenders often assess the business’s size, model, and ability to repay to ensure the loan works best for them.
- Loans Up to AED 5 Million Businesses can access loans from 1 million to AED 3 million, which can be used for business expansion, starting new projects, or supporting ongoing operations.
- Flexible Repayment Business loans in the UAE offer flexible repayment terms, allowing businesses up to 60 months to repay the loan. This makes it easier to manage payments, even if unexpected challenges arise.
Documents Required for Business Loan Application in the UAE
- Completed bank application form
- Valid Trade License copy.
- MOA with all amendments
- Copy of a valid passport, visa, and Emirates ID for all partners.
- Company Bank statements from the last 6 to 12 months
- VAT statements for the last 4 quarters.
- Commercial tenancy contract/ Ejari
- Electricity bill or Telecom bill for the last 02 months.
- Few Sales/ Purchase invoices
- Last 02 years audited financials for high loan amount.
- Assignment letter (only if applicable for cases with POS assignment)