Gulf Finance Small Business Loans Features:
- Unsecured cash loan of up to AED 250,000 for new customers
- Or AED 500,000 for top-ups/ loan buy-outs
- Minimum annual revenue - AED 2.5 Million as evidenced in bank statements
- Maximum term - 48 months
- 20%-24% for new loans
- 18%-20% for loan buy outs
- 18%-22% for top-ups
- AED 250,000 for new customers
- AED 500,000 for top-ups/ Loan buyouts
- 3 years for trading companies, as measured from the date of owner joining the business
- 2 years for other companies, as measured from the date of owner joining the business
- 2%, if settled from own funds
- 5%, if settled from other financial institutions
- 12 month bank statements for general trading companies, 6 months bank statements for other companies
- KYC/KYB Documents
- Verbal financials
- Copies of invoices (sales and purchase)
** Calculator Definitions
Amount: The total amount of money borrowed, also referred to as the principal amount.
Rate (%): This is the annual interest flat rate on the product. This is not the 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 on the product plus fees and other costs. The APR is useful when comparing two or more products with different interest rates and fee structures.