Banks are little hesitant to give loan to an individual having no track record in the UAE especially those without local partner guarantees. We are going to provide you the help against getting business loan. We know that 80% of the population is an expat residing in UAE on work permit or residence visa.
In General, UAE banks consider the eligibility for loans only based 1 to 3 years track record, so the new businesses have to sustain on their own.
The common ways to get finance for small businesses in Dubai-UAE are
- Loan against the salary of the owner
- Credit card converted into 12 months starting loans
- Mortgage against property
- Business Loans as overdraft against collateral
Most of these require track records for few months at least and for big companies there are different options of funding.
Bank Criteria for funding up to USD 270,000/-
- The audited financial accounts
- Background and credit ratings of the owners
- Collateral Possibilities
- Business Plan
Make my Firm being one of the top business consultants in Dubai will never lead you to destructive schemes, our think tank analysts are doing 24/7 research on loans, as the loans are taken so it has to be also returned with interest. Your business is new or old it’s not going to make much difference, as we are best loan consultant in Dubai.