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Other Business Loans From Beehive Group DMCC
Credit Bureau Consent, Welcome Offer & General Terms & Conditions
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Beehive Group DMCC Business Finance – Islamic
Business Finance – Islamic
- The reduction rate and the flat rate is 8% and 4.41%. This denotes that the computation done was a division of the reduction rate by 1.814
- There is no limit to the maximum loan amount
- Early settlement fee is AED 0 to apply for this finance
- Processing fee is 2% of the loan amount
- Repayment period is up to 36 months
- Provides minimum finance amount of up to AED 100,000
- 2 years minimum length of business is required
- There is no maximum annual turnover limit to apply for this finance
- Minimum annual sales turnover of AED 2,500,000 is needed to apply for this finance
- No need to have a bank account with Beehive to apply for this finance
- After successful submission of documents, within next 5 working days the bank will approve the loan
- Trade License should be valid
- All the partners and local partners are required to submit passport copies while applying for the finance
- All the partners and local partners are required to submit Emirates ID while applying for the finance
- Audited financials of last 2 years have to be submitted to the bank
- Bank statements of last 12 months have to be submitted to the bank
- Residential and company address confirmation of all shareholders and partners has to be submitted
- Copy of partnership agreement duly attested and share certificates
- Finance amount is high
- Long and flexible repayment period is provided by bank
- A dedicated relationship manager guides you throughout the process
- Documentation process is simple and easy
Frequently Asked Questions
⭐ Who all can avail business loan service from Beehive Group?
A. Businesses which need to grow and create jobs can avail business loan in Beehive Group.
⭐ What if my loan application got rejected first time. Can I apply again? If yes, then when?
A. Yes, you can again apply if your loan application got rejected first time. As long as your circumstances have changed from last time when you applied for business loan. 3 months from then you can again apply for business loan application.
⭐ Do I need to have a business plan to apply for business loan in Beehive Group?
A. Yes, before applying for business loan, you need to have a business plan only then your application can get accepted.
⭐ Why is it suggested to refinance your existing loan?
A. It is suggested to refinance your existing loan because interest rates will be charged low in such case.
⭐ What if I have bad credit history. Do I still get to apply for business loan in Beehive Group?
A. Yes, in some cases bank provides loan to such people although bank might charge you with high interest rates.
Based in Dubai, Beehive is the UAE’s first online marketplace for peer-to-peer finance. They strongly believe SMEs should have faster access to lower cost finance to grow their business while investors should have direct access to alternative asset classes that can generate higher returns in an environment where risks are shared.
The team at beehive is passionate about bringing a smarter finance solution to the UAE, facilitating connections between investors and the business community, and building mutually beneficial partnerships for economic growth.
They have established a committed and dynamic team of individuals who possess a wealth of experience of financial markets and technical innovation, both in the UAE and internationally.