Dubai has increased in popularity as a destination for expatriates over the years. To keep this trend, the Dubai loan industry has developed into a well-established market offering business loans to local and foreign lenders. If you are looking for a Business Loan In Dubai. We at Taskmaster here for you to help you in obtaining a business loan and make your process easy, effective and reliable.
Getting the right business loan can help you to survive in an economy where is one fight after another to stay on top of the game. By taking advantage of these fast company loans in Dubai, a company can use the money to accomplish the financial requirements related to the regular task of the company like paying employees’ salaries, purchasing equipment, and inventory, for marketing purposes, etc. Which will present the development of the company. Having quick access to company loans in Dubai can empower you financially and will allow your company to continue and expand its worldly operations.
Business Loan in Dubai
Business loans are in high demand in small and medium industries, commercial business organizations, and even entrepreneurs to name a few. Almost every major bank or any financial entity in Dubai has commercial financing solutions to provide. There are several options for business loans in Dubai and you have to be very careful while choosing the one that meets our needs in the best possible way and for that matter, you have to ask what you require to obtain this loan; it was processed rapidly and smoothly
Obtaining a business loan in Dubai is easy but sometimes it sounds tricky procedure. You have to get the right license and require to prepare the necessary documents for loan approval. Dubai banks place strict adherence rules. If there is any discrepancy between business activity and license, the bank will reject your application. To avoid this, we at Taskmaster loan brokers in Dubai will guide you properly in obtaining a loan for your business.
Eligibility Criteria to Get Business Loan in Dubai
The very crucial thing you have to contemplate before approaching a bank for obtaining a loan is the eligibility criteria provided by the concerned bank.
The following below are the common criteria that all the banks consider.
- The business should be in operation for at least a year.
- If your association is a branch or subsidiary of any offshore company then getting a loan will be considered to be easy.
- An annual turnover of AED 1 million at least is needed to obtain the loan.
In Dubai, banks offer different categories of loans to a different category of business. The tenure for a business loan is 1 to 4 years.
What are the documents the company needs to provide Business Loan in
Be it a small business or large business organization, obtaining a company loan in Dubai is easy if you have the right documents. The very crucial and mandatory documents are mentioned below:
- Bank statements for the last 12 months
- Memorandum of Association/ share certificate or board of resolution
- Passport and visa of 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
These all the essential documents that you need to prepare and submit to the bank for a business loan. We at Taskmaster Loan Brokers in Dubai can also help you with Documentation.
We are here to help you
Taskmaster commercial broker LLC is a reputed firm in Dubai, UAE. We have a team of experts who provide you a wide range of services that will delight you. We make our clients every process easy, effective, and successful without any obstacle in a short possible time. We have years of experience and knowledge in depth in this sector.
If you are wondering about business loans in Dubai then we are here for you to provide these kinds of loans from our rated banks without any hidden cost. Our skilled professionals understand more about loans and are already gone through this process many times. So, if you are interested then contact us to take pleasure of our best services. We would be glad to assist you.