Business Term loan

Overview

Business Term loan, an award-winning business package, is more than a Business lending Finance, it offers an advisory tool that helps SMEs manage their finances and support their business growth throughout customized Business finance package. This Business Term loan product combines purpose-specific business products in which it allows you to better manage your business growth efficiently, thus this will tremendously save your valuable time and money by applying for one comprehensive and affordable solution instead of many.

Business Term loan product menu offerings are:

• Business Installment Loan : Short to medium term business installment loan with fixed monthly repayments with a choice of tenures between 12 months to 48 months. Find out more
• Fixed Assets Finance: We help you to equip your Business for success and to build your business ambitions. Find out more
• Goods Finance: We will help you with financing your business goods and inventory by increasing purchase power. Find out more

All Business Loans Products provide access to a common collateral-free credit limit of up to AED 1 million.

Features and Benefits

• Flexible limits with high finance amount of up to AED 1 million for NTB and up to AED 2Mn for Top ups and Buyouts.
• No collateral or security requirements. Hassle-free access to finance with minimum formalities.
• Fair and very competitive pricing, with a commitment to maintain fees and interest rates at reasonable pricing among the market.
• Islamic financing option available.
• Convenience: All repayments are automatically direct debited from your CBD Business Bank Account.
• Flexible repayment tenure: Up to 48 months
• Loan top up facility after 12 months of satisfactory loan performance.
• Dedicated relationship managers to manage your day to day business accounts.
• Access to all CBD branches for your day to day banking transactions.

Eligibility Criteria

• Open to all registered business entities operating in the trading, manufacturing, professional or service sectors.
• Business operating for at least two years, with annual sales turnover of AED 2,000,000 or over.
• Minimum of 6 months relationship with CBD or another bank, maintaining a minimum bank account balance of AED 40,000.

Required Documents

• National ID or valid passport with UAE residence visa and Emirates ID of all signing authorities and shareholders, if applicable
• Valid legal and constitutive documents (i.e. Trade License, Certificate of Commercial Registration, Free Zone Certificate of Incorporation, Memorandum of Association, Partnership Agreement) as applicable
• Power of Attorney or Board Resolution, if applicable
• Proof of Address
• Details of Ultimate Beneficial Owners
• Bank Reference Letter and Company Profile, if applicable
• No requirement for audited financial statements
• 12 months original bank statements for the business entity