{"id":1594,"date":"2017-09-21T09:43:42","date_gmt":"2017-09-21T09:43:42","guid":{"rendered":"http:\/\/139.59.38.172:8081\/?p=1594"},"modified":"2020-06-11T11:35:06","modified_gmt":"2020-06-11T11:35:06","slug":"getting-loan-business-uae","status":"publish","type":"post","link":"https:\/\/www.mymoneysouq.com\/financial-blog\/getting-loan-business-uae\/","title":{"rendered":"How to Get a Business Loan in the UAE"},"content":{"rendered":"\n<p><span style=\"font-weight: 400;\">UAE is an encouraging land for entrepreneurs to start their business. Many of them come and try out their luck in this land of gold. For anyone who wants to set up a business abroad, the first place that comes to the mind is UAE. <\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">UAE is a country that is stable in terms of finance. So providing financial support i.e business loan in UAE for the entrepreneurs is not so tough for banks. <\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Eligibility for a Business Loan in UAE<\/strong><\/h3>\n\n\n\n<p>This is the important thing one has to consider before approaching a bank. Because not all banks would provide a loan as per your requirement. Each bank has its own eligibility criteria. The following below are the common terms that all the banks consider.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><span style=\"font-weight: 400;\">Business should be in 1 year of operation at least <\/span><\/li><li><span style=\"font-weight: 400;\">If your organization is a branch or subsidiary of an offshore company then getting a loan would be considered easy. <\/span><\/li><li><span style=\"font-weight: 400;\">Annual turnover of AED 1 million at least <\/span><\/li><li><span style=\"font-weight: 400;\">Limited liability company <\/span><\/li><li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Sole Proprietorship\/Partnership <\/span><\/li><\/ul>\n\n\n\n<p>In UAE banks provide business different kinds of <a href=\"https:\/\/www.mymoneysouq.com\/loans\/compare-business-loans-uae\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"business loans (opens in a new tab)\">business loans<\/a> called SME loans. Which means Small and Medium Enterprises loans. These are for the small and medium scale business organizations where they provide loans for lower interest rates comparatively.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Documents required for Business Loan in UAE<\/strong><\/h3>\n\n\n\n<p>Be it a small business or a large industry, getting a business loan in UAE is very easy if you have genuine\/valid documents. Speaking of the documents, the most important and mandatory document is Trade Licence.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Trade Licence<\/strong><\/h4>\n\n\n\n<p>The trade license is a permit provided by the government of UAE to the investors giving permission to run the business. There are different trade licenses for every trade, which depends on the category of your business. The trade license fees would be around AED 3,900 to AED 183,000. Most of the businessmen prefer a general trade license which would be beneficial to run the business of all commodities. The trade license is highly beneficial; not only for a business loan but also for other loans in UAE like <a rel=\"noopener noreferrer\" href=\"https:\/\/www.mymoneysouq.com\/loans\/compare-personal-loans-uae\" target=\"_blank\">Personal loan<\/a>, <a rel=\"noopener noreferrer\" href=\"https:\/\/www.mymoneysouq.com\/loans\/compare-home-loans-uae\" target=\"_blank\">Home loan<\/a>, <a rel=\"noopener noreferrer\" href=\"https:\/\/www.mymoneysouq.com\/loans\/compare-car-loans-uae\" target=\"_blank\">Auto loan<\/a>. A trade license is an important document for self-employed individuals.<\/p>\n\n\n\n<p>Apart from the trade license, other <a rel=\"noopener noreferrer\" href=\"https:\/\/www.mymoneysouq.com\/financial-blog\/list-of-documents-required-by-banks-in-uae-complete-checklist\/\" target=\"_blank\">documents<\/a> which are mandatory for a business loan in UAE are:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><span style=\"font-weight: 400;\">Business agreement (if under partnership)\/ Power of attorney<\/span><\/li><li><span style=\"font-weight: 400;\">Passport<\/span><\/li><li><span style=\"font-weight: 400;\">Bank statements<\/span><\/li><li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Emirates ID<\/span><\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Benefits of a Business Loan in UAE<\/strong><\/h3>\n\n\n\n<p><span style=\"font-weight: 400;\">There are many benefits that banks in the UAE provide for business loans apart from the SME loans. <\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><span style=\"font-weight: 400;\">Free credit cards<\/span><\/li><li><span style=\"font-weight: 400;\">Free life insurance cover<\/span><\/li><li><span style=\"font-weight: 400;\">Business loans which follow Shariah complaints<\/span><\/li><li><span style=\"font-weight: 400;\"><a href=\"https:\/\/www.mymoneysouq.com\/loans\/compare-personal-loans-uae\" target=\"_blank\" rel=\"noopener noreferrer\">Interest rates in UAE<\/a> can be chosen between fixed rates or reducing rates<\/span><\/li><li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Security for the loan need not be provided<\/span><\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Popular banks for business loans in UAE<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.mymoneysouq.com\/loans\/adcb-business-loan-in-uae\" target=\"_blank\" rel=\"noopener noreferrer\">Abu Dhabi Commercial Bank(ADCB) Business Loans<\/a><\/li><li><a href=\"https:\/\/www.mymoneysouq.com\/loans\/rakbank-business-loan-in-uae\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">RAK Bank Business Loans<\/span><\/a><\/li><li><a href=\"https:\/\/www.mymoneysouq.com\/loans\/union-national-bank-business-loan-in-uae\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">United National Bank Business Loans<\/span><\/a><\/li><li><a href=\"https:\/\/www.mymoneysouq.com\/loans\/united-arab-bank-business-loan-in-uae\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">United Arab Bank Business Loans<\/span><\/a><\/li><li><a href=\"https:\/\/www.mymoneysouq.com\/loans\/cbd-business-loan-in-uae\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">CBD Business Loans<\/span><\/a><\/li><\/ul>\n\n\n\n<p>One need not worry about financial requirements to start a business when there are several <a href=\"https:\/\/www.mymoneysouq.com\/financial-blog\/top-10-banks-in-uae\/\" target=\"_blank\" rel=\"noopener noreferrer\">banks in UAE<\/a> to provide the best business loans with various benefits. All you need is valid and genuine documents and a strong will to do a business.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>UAE is an encouraging land for entrepreneurs to start their business. Many of them come and try out their luck in this land of gold. For anyone who wants to set up a business abroad, the first place that comes to the mind is UAE. UAE is a country that is stable in terms of [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":7521,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[95,11],"tags":[21,22],"class_list":{"0":"post-1594","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"category-loans","9":"tag-best-investment-options-dubai","10":"tag-dubai-financial-market"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to Get a Business Loan in the UAE - MyMoneySouq Financial Blog<\/title>\n<meta name=\"description\" content=\"Be it a small business or a large industry, getting a business loan in UAE is very easy if you have required documents and meet the eligibility criteria\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.mymoneysouq.com\/financial-blog\/getting-loan-business-uae\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to Get a Business Loan in the UAE - 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