| Minimum Revenue | Maximum Loan Amount | Equity Required | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
GrowthIQ SME Financing
|
Minimum Revenue: AED 730,000 | Maximum Loan Amount: AED 20,000,000 | Equity Required: Yes | Maximum Term: 3 Years | Flat Rate: 0.82% | Reducing Rate: 1.48% |
This service is
provided at no cost to you as GrowthIQ receives its compensation directly from
its partner banks and financial institutions.
Speed up your business financing by applying once and matching exclusively with lenders likely to approve your request. GrowthIQ evaluates your business against actual lender requirements and connects you to the ideal financing solutions while managing the entire process for you. Experience smart lender matching in minutes with flexible repayment terms ranging from 1 to 36 months.
Key Features & Benefits:
- Helping you access the most competitive rate for your business.
- Most of our lenders offer Shariah compliant products.
- Single Access Point to Multiple SME Financing Products; Term Loans, Invoice Discounting, Supplier Financing, Short-Term Financing & Revolving Credit Facilities.
- Faster decisions by engaging the right lender first.
- Term Loans up to AED 2,500,000, Invoice Discounting up to AED 20,000,000,Short Term Loans up to AED 1,500,000 & Supplier Financing up to AED 10,00,000.
- Higher approval chances through smart lender matching.
- One Application · Selectively Matched to the Right Bank or Fintech Lender based on your business profile.
- Dedicated Relationship Manager assigned to your business.
Conditions:
- UAE-registered business (Mainland or Free Zone).
- Minimum annual revenue of AED 730,000 required.
- Credit approvals within 7 to 10 working days.
- Businesses must be operating for at least 7 months.
- Final approval and terms subject to lender credit assessment.
Rates and Fees:
- Rates, fees and repayment terms are determined by the matched lender and vary based on the financing product, business profile and credit assessment.
- Processing Fee by Lender: Typically 1% – 2% of the loan amount.
- Early Settlement Fee: The cost of paying the loan off early (usually capped at 1% or AED 10,000 per UAE Central Bank rules).
Documents Required:
- Trade License.
- Latest 6 months PDF bank statements downloaded from online banking.
- Memorandum of Association (MoA).
- Emirates ID of the owner(s).
- Valid Tenancy Contract.
- Tax Registration Certificate.
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
Representative Example Calculator
