Business Installment Loan

Overview

Whenever a new business opportunity or situation requires the injection of additional business funding.

You can borrow up to AED 2 million as business loan with no collateral or security requirement and set your fixed term repayment period anywhere between 12 and 48 months. In line with CBD’s fair pricing commitment, you have the added assurance of knowing that you will be paying amongst the lowest comparable rate of interest in the UAE, fixed for the duration of your loan.

Features and Benefits

• No collateral or security requirements: Hassle-free access to finance with minimum formalities
• Fair pricing, with a commitment to maintain fees and profit rates amongst the lowest in the market.
• Fast decision making and processing turn-around times, with the majority of credit decisions made within 48 hours
• Transparency: Clear and straightforward terms, conditions and eligibility requirements
• Convenience: All repayments are automatically direct debited from your business bank account
• Flexible repayment tenure: Choice of repayment periods between 12 and 48 months
• Loan top up facility after 12 months of satisfactory loan performance
• Buy-out option: CBD will help you to transfer your existing loans and credit facilities from another bank
• No requirement to submit audited annual statements

Fees and Charges

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.
• Applicants should be between 25-65 years during the finance tenure.

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