Commercial business loans are simple to obtain in Dubai as several financial institutions provide a variety of packages. It’s important to remember that not all banks will provide commercial business loans suited to your company’s needs. Each bank or financial institution will have specific eligibility requirements that you must meet to be approved for a loan.

Documents Required for Getting a Business Loan in UAE

The following types of papers are usually required by banks when you apply for a business loan:

• Copy of the applicant’s passport

 

• Complete bank application

 

• Recent six-to-twelve-month bank records

 

• The Joint Venture Agreement (If applicable)

 

• Article of Association

 

• Power of Attorney (POA)

 

• Memorandum of Association (MOA).

 

• Submit a copy and the original of your trade license for verification.

  The following additional paperwork, which you should have on hand, is frequently required by banks in addition to the above-listed essential documents.  

• Trade Permit

 

• Tenancy agreement for the owner’s residence or a sharing agreement

 

• Lading bill (if applicable)

 

• Invoices of several transactions

 

• Audit report

 

• Tax ID document

 

• Obtaining a list of employees from the Ministry of Labour

 

• The proper paperwork is required if you’re applying for a business instalment loan or an urgent loan in the UAE.

 

• Regardless of how big or small your company is, obtaining corporate financing in the UAE is straightforward if you have all the required paperwork.

 

• You will need assistance from someone knowledgeable about corporate loans in the UAE because the paperwork that financial institutions may ask for, can differ from time to time.

 

• Fin Street Banking Consultancy Provider helps you get business loans for your firm.