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Thank you for providing your details.Emirates Money Loan Against Point Of Sale
Features
- The reduction rate and the flat rate is 14% and 7.72%. This denotes that the computation done was a division of the reduction rate by 1.813
- Provides maximum finance amount of up to AED 2,000,000
- Early settlement fee is 5% of the finance amount
- Processing fee is 2% of the loan amount
- Repayment period is up to 48 months
- Provides minimum finance amount of up to AED 50,000
- 1 years minimum length of business is required to qualify for this finance
- There is no maximum annual turnover limit to be eligible for this finance
- Minimum annual sales turnover of AED 300,000 is needed to apply for this finance
- You need not have a bank account with Emirates Money to apply for this finance
- After successful submission of documents, within next 3 working days the bank will approve the loan
Required Documents
- Audited financials of last 2 years have to be submitted to the bank
- Need to provide bank statements of last 6 months
- Trade license copy
- Power of Attorney
- Copy of passport with valid visa
Benefits
- Finance amount is high
- Long and flexible repayment period is provided by bank
- A dedicated relationship manager guides you throughout the process
- Provided with pre approved business credit card along with this scheme
Frequently Asked Questions
⭐ What are the documents that are required to apply for business loan?
A. Documents required to apply for business loan are:
1. KYC documents
2. Business and residence ownership proof
3. Salary proof
⭐ Do I need to pledge property or equipment to get a loan?
A. Yes, for a security purpose, you need to pledge your property or equipment while applying for business loan.
⭐ Will my credit get better if I wait for sometime and then apply for business loan?
A. No, credit doesn't get better with time, it generally gets worst with time.
⭐ Where can I use my business loan?
A. You can use your business loan for reasons like to buy business equipment, buy a business, refinancing existing debt or permanent working capital.
⭐ Will I be charged for my application for business loan?
A. No, you will not be charged by Emirates Money bank for your application form.
Emirates Money
Emirates Money is a subsidiary of Emirates NBD. It serves all set of customers like self employed, salaried, corporate financing and much more. Emirates Money provides different options to help the individuals better. It 2016 Emirates Money is transferred entirely to Emirates NBD which is one of the largest banks that has established its services globally. It works with a mission to make their customer’s live simpler by fulfilling their financial goals.