Procuring and accessing business loans Dubai can be a complex exercise, there is no surprise that we have more questions than answers about it. There are plenty of companies who might be able to assist you but many of us as business owners are unaware of the process and what questions to ask. Please find your answers below to some of the frequently asked questions below:
1. I am not sure if my company is eligible for a credit?
Most businesses involved in any legal trading would qualify for corporate loans depending on individual circumstances. A financial consultant will be able to assess the situation of your company and guide you in the right direction.
2. I do not have the right documents and paperwork in place. How do I go about it?
The first & foremost thing to do is to ensure all your trade documentation is in place and in an easy to understand format. Unless you have in-house expertise you will need to engage an auditor - we will assist you in getting this done.
3. I have existing credits. Will I still qualify for a corporate loan?
There is no reason why you shouldn't be able to secure an additional credit, as long as you have the right documentation and able to validate the reason for your loan.
4. I only need a loan for a short period. Is that possible?
Yes, there are different periods of borrowing and repayment options available.
5. I have been previously declined a credit application. Would I still qualify?
Just because you have been declined once, it doesn't mean you won't qualify for future loans. The role of financial consultants in Dubai, who you engage should be responsible to source this for you as your circumstances would have changed and a new assessment would see you qualify for one.
6. Can I shop around for the best deal available in the market?
Absolutely! That's what you need to do as a smart businessman. Your financial consultant will have access to the best deals currently available with multiple lenders which is the most suitable for your company.
7. I am not ready now but will require it in the near future. What do I do?
Securing a commercial funding is not an overnight process and does take its time. So if you are looking for financing in the short-term its best to get started early.
8. Is it possible to structure a loan based on my preference?
In most cases that is what lending institutions will do. Many finance companies in Dubai will cater a solution which is tailor-made for your companies requirements.