Secure constant flow of funds for your business.
Types of Business Financing
In UAE, there are different types of financing businesses can apply depending on the nature of the lender and the period of repayment.
Flexible repayment options with competitive interest rates.
Shariah-compliant, interest-free financing with profit-sharing arrangements.
Collateral based financing for businesses not opting for conventional financing options.
Eligibility for Business financing in UAE
The eligibility criteria for business financing vary across different banks and financial institutions. Some of the requirements are common between all lenders.
The business must be able to produce valid legal documents of the company and stakeholders.
The business must at least complete a year in operation, and generate an annual turnover specified by the bank.
The borrower must possess a corporate bank account for 6 months, and for financing amounts over 2 million, audited financials would be required.
.webp)
.webp)
Documents required
Business financing is sanctioned only after careful background checks and authorisation checks. Certain documents need to be present to complete verification.
A Trade license, Memorandum of Association, Articles of Association, Board Resolution, along with lease agreements and other company documents are required. The borrower must also possess a VAT certificate and the complete Employee list.
The borrower is expected to submit Identification documents such as passport, Emirates ID and residence proof.
Bank statements, Profit and Loss statements and Audited Financials need to be submitted.
What you need to know about business banking
Before you apply for a business financing, there are certain things you need to understand and look out for.
Credit score is crucial requirement to meet eligibility
The amount sanctioned for business finance differ from bank to bank. The usual amount ranges from AED 250,000 to AED 5 Million.
The interest rate depends on finance amount, repayment tenure, income, credit score, and
collateral presented.
Finer can also assist businesses to choose the right kind of day-to-day banking, savings or current account.
.webp)
Why Finer
.webp)
.webp)
.webp)
.webp)
Frequently asked questions
Broadly, length of your business, financials, credit history determines eligibility for a buisness finance. You may get in touch with Finer for a free assessment and eligibility check.
Finer works with multiple lenders. We will do a preliminary assessment and give you best possible pricing choices along with pros and cons for you to decide.
Yes, in some cases.
Yes, in some cases.
Yes. You can anytime early close your loan by paying principal outstanding along with an early settlement fee.