Apply Online for Business Loan in Dubai

Business loans are usually applied for growing a business or starting a business in Dubai. Obtaining a business loan is quite easy in Dubai with several banks and financing companies providing various packages. Hence to get financial support for your business you need to obtain a business loan in Dubai from banks and other financial entities, you can also apply online for your business loan. Here we mentioned a little guide regarding the vital factors that you should know before applying for business loans.

 The UAE can be considered as a stipulating land for the business people to begin their business here. Lots of business people come and try their luck in Dubai. For someone who wishes to establish their business abroad, the first location that comes their mind is Dubai. This is the place which is considered to be sustainable in terms of finance. Therefore, for financial support, you need to choose for getting loans from financial institutions. Connect with our professionals at Taskmaster for helping in getting a business loan.

 Almost all the private and public banks in Dubai as well as several reputed financial organizations are among the renowned flexible plan business loan providers in Dubai. So, there are countless choices are available to you which can result in certain confusion about these loan schemes, if you have not already done certain homework. This is better to compare the various business loan plans provided by certain leading banks and financial institutions on the basis of different parameters like the interest rate that is on offer, then you can take the eligibility guidelines, loans terms, and minimum tenure of your business, the processing fees, etc. This comparison would help you to a great extent as you would be able to zero in on at least two or three banks of your choice, then which you can look at separately before you going for the option you like the best.

 

Eligibility Criteria to Get a Business Loan in Dubai

The very crucial thing you have to contemplate prior to approaching a bank for getting business loans in Dubai is the eligibility criteria offered by the respective bank. The basic criteria that you need to complete are:

 

• The business must be in operation for at least one year
• If your association is a branch or subsidiary of any offshore company then obtaining a loan would be considered to be easy.
• An annual turnover of AED 1 million at least is needed to obtain a loan.

 

The banks of UAE offer different categories of the loan of business. The period for a business loan is 1 to 4 years.

Required Documents to Get a Business Loan in Dubai

The essential documents that you need to prepare for getting a business loan in Dubai are:

 

• Bank statements for the last 12 months
• Memorandum of Association/ share certificate or Board of Resolution
• Passport and visa off all the partners
• Emirates ID
• Office EJARI
• Owners home residence tenancy contract or sharing accommodation letter
• High volume transaction invoices
• VAT certificate
• Audit Report
• List of employees obtained from Ministry of Labor
• Landing Bill
• Trade license

Benefits of Getting a Business Loan in Dubai 

There are several advantages that banks provide in Dubai after getting a business loan:

 

• Free credit card
• Free life insurance cover
• Interest rates in Dubai can be chosen between decreasing rates or fixed rates
• Protection of the loan requires not to be provided.

If you are looking for getting a business loan for financial support for your business then you need to take the assistance of the best loans brokers inDubai at Taskmaster who provide you best services related to loans matter. Our qualified specialists have deep knowledge regarding the criteria of getting business loans and are gone through this procedure many times already. Hence, if you are interested then take pleasure in our best services that will surely delight you.