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Business Loans

Get a Business Loan in the UAE

To sustain, grow, or refinance their business, many business owners in the United Arab Emirates choose to take out a business loan. Depending on the potential risk, banks and other financial institutions in the UAE offer business loans at fair interest rates with or without security.
There are various eligibility requirements that you must meet whether you are seeking a business loan in UAE to start a brand new or an existing business.
Hexa banking will act as a guide, and teach you everything you need to know about Business Loans in the United Arab Emirates, for a new business setup in UAE as well as expansion of business and corporate services.

WHAT ARE THE FEATURES OF A BUSINESS LOAN IN THE UAE?

THE PERIOD OF REPAYMENT
A business loan in UAE has a repayment period that lasts between two and five years. The length of the loan payback period is also influenced by the loan amount requested.
RELATIONSHIP MANAGER
The loan borrowers are given a relationship manager by the majority of banks in the United Arab Emirates so that they can get in touch with them if they have any questions
THE AMOUNT OF LOAN
In the United Arab Emirates, business loans typically vary from AED 50,000 to 5,000,000. The banks examine the applicant’s financial situation and base the loan amount they offer on it.
Business Account
On the day they apply for a business loan, the applicants must have an open business account with one of the banks in the United Arab Emirates. This assists the lender in obtaining a reference from the bank regarding their interaction with the applicant.
Rate of Interests
Different banks may charge different interest rates for business loans. The applicants’ interest rates, however, are affected by several variables, including their credit history, monthly income, the number of loans they have open, the size of the loan, etc.

What are the prescribed Eligibility Criteria for a Business Loan in the UAE?

Ask your bank what requirements you must fulfill to be eligible for a business loan in the UAE. The requirements could differ from bank to bank. Eligibility Criteria to Apply for a Business Loan in UAE You should consider the eligibility requirements of the bank before contacting them to apply for a business loan. Banks in the UAE provide loans catered to various business industries. Loans for new business set up in the UAE or for expansion of corporate services can be secured for 1 to 4-year terms. The standard eligibility criteria for all UAE banks offering business loans are:
- To qualify for a loan, your business must have a minimum annual revenue of AED 1 million.- Getting a loan is easier if your company is a subsidiary or branch of an offshore firm.- The company must have been operating for at least one year.

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