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Dubai First SME Business Loan
This product is discontinued by the Bank
SME Business Loan
- The reduction rate and the flat rate is 18% and 9.92%. This denotes that the computation done was a division of the reduction rate by 1.814
- Provides maximum finance amount of up to AED 500,000
- Early settlement fee is 5% of the finance amount
- Processing fee is 2% of the loan amount
- Repayment period is up to 48 months
- Provides minimum finance amount of up to AED 25,000
- 1 years minimum length of business is required to qualify for this finance
- Minimum annual sales turnover of AED 900,000 is needed to apply for this finance
- You need not have a bank account with SME 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
- Audited financials of last 2 years have to be submitted to the bank
- Application form
- Copy of share certificates
- Need to provide bank statements of last 6 months
- Power of Attorney needs to be submitted to the bank
- Finance amount is high
- Long and flexible repayment period is provided by bank
- A dedicated relationship manager guides you throughout the process
- The documentation process is simple and easy
Frequently Asked Questions
⭐ What is the minimum length of business required to apply for this finance?
A. The minimum length of business required to apply for this finance is 1 years.
⭐ Where can I use my business loan?
A. You can use your business loan for reasons like to buy business equipment, buy a business, refinancing existing debt or permanent working capital.
⭐ Will I be charged for my application for business loan?
A. No, you will not be charged by Dubai First bank for your application form.
⭐ Do I need to have a business bank account to apply for business loan in Dubai First bank?
A. No, it is not mandatory to have business bank account to apply for business loan in Dubai First bank.
⭐ Is there any support available while we apply for business loan application?
A. Dubai First's dedicated managers will support and guide you all throughout the application process.
Dubai First is a wholly owned subsidiary of First Abu Dhabi Bank. The FAB is not only the largest bank in the UAE but also one of the largest financial institutions globally. It offers a wide range of customized services, products and solutions to its customers. Dubai First is fully operational out of Dubai, with branches in Abu Dhabi and Sharjah. It specializes in innovative and value-centric credit cards, that serve the unique characteristics of contemporary lifestyle-savvy customers.
Corporate Values of Dubai First:
Dubai first offers loans for businesses for expansion and/or get small needs met right away with proper financing at the right time.
Get in touch with Dubai First Customer Care