Dubai First loan to small businesses Interest rate: 18% Minimum sales: annual 900,000 dirhams Diminishing percentage: 18% Work for? 1 year / year Fixed rate: from 9.92% Wonderful for • the amount of funding is high • long repayment period of up to 48 months be aware of • Aojadded minimum extent required for annual sales • You must be the age of the company at least a year to be eligible for this funding Key Features • High loan amount, repayment period up to 48 months. Necessary documents • A copy of the passport and residence • bank account statements for the last 6 months • A copy of the commercial Alchhadrh and Memorandum of Association • Authorization • Financial Audit Features Overview • You can get pre-approved credit cards with this funding and be a credit limit • Unsecured • You do not need to have to have a bank account in order to apply for trade finance • You must have a minimum annual sales volume of 900,000 dirhams the company to be eligible for this funding. • You must be at least the age of the company in order to be eligible for funding • Minimum of funding provided is 25,000 dirhams • The maximum funding is provided 500,000 dirhams • repay financing for up to 48 months • transaction fee of 2% of the total amount of funding • early settlement fee of 5% of the remaining balance • interest rate starts at 18%, and could rise to 26% per annum, depending on the company's file. • dwindling percentage of this financing is 18% fixed rate equivalent to the decreasing ratio is 9.92%. PI is calculated by multiplying the ratio decreasing to 1.814 and this calculation only to denote • Amejrd filings successfully, funding needs to be a period ranging from 5-7 business days for approval
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