Tailor made loan products for all your business needs……
Its simple, fast and transparent.
Features & Benefits:
- High Loan amount up to AED 1.5 million.
- No collateral required.
- Flexible repayment period up to 48 months.
- Simple and easy documentation.
- Quick processing time & approval.
- Attractive Interest rates.
- Dedicated RM to service all your business requirements.
- A business Current account with no minimum balance requirement.
1. What is a UAB SME ‘Business Installment Loan’?
A UAB SME Business Loan is an installment loan for business entities to meet their working capital requirement and other business needs.
2. What type of business entities are eligible to apply for an UAB SME Business installment Loan?
Following entities are eligible to apply for a Business Installment Loan:
- Limited Liability Company (LLC)
- Sole Proprietor
- Free Zone Companies
- Branches/Subsidiaries of Offshore Entities
3. What are the documents I need to provide to avail the Business installment Loan?
To avail Business Installment Loan, you must initially submit the following documents for the purpose of evaluation:
- Application Form.
- Copy of valid Trade License.
- Last 12 months Bank Statement (Business).
- Copy of Passport with valid Residence Visa.
- Copy of Utility Bills e.g. office telephone or electricity bill.
- Copy of signed Memorandum and Articles of Association of the business.
4. What is the minimum and maximum the business installment loan can offer?
The minimum loan amount is AED 167,000 and maximum is AED 1 Million.
5. What is the minimum and maximum tenor I can apply for?
The minimum tenor is 12 months and the maximum tenor is up to 48 months.
6. What are the repayment modes available?
The repayment mode is through a standing instruction from the UAB account.
7. Can I go for a top-up loan in the future?
Yes. Once the company has completed 12 months of satisfactory re-payments of the loan, the company may apply for a top-up loan. However, in case if the company has availed a 12-month Small Business Loan, then the company can apply for a top-up after 6-months of satisfactory re-payment history.
8. Can I go for the early settlement of my loan?
Yes. You may go for an early settlement of your loan. This would be subject to pre-closure charges, as applicable.
9. Can I make partial repayment?
No. Partial repayments are not permitted.
10. Do I have to open an account with UAB?
Yes. You have to open a business current account (in case you do not have one already) for your loan amount to be credited to that account, servicing of the loan EMI & for you to enjoy a host of other benefits.
11. Who do I contact for any service related query?
Your dedicated RM
The call center- 800-474
Write to us at Click here to email