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What are the documents required to get a business loan in the UAE?

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Task Master Gulf Task Master Gulf, Taskmaster Commercial Broker LLC | Loan brokers in Dubai verified
Answered on January 30,2023

The documents required for a business loan in the UAE can vary by lender, but typically include the following:

1. Business registration certificate: Proof of the business's legal registration and operating status in the UAE.

2. Financial statements: Recent financial statements, including balance sheets, income statements, and cash flow statements, demonstrate the financial stability of the business.

3. Proof of income: Documentation showing the business's revenue, such as invoices, bank statements, or tax returns.

4. Personal identification: Passport and visa copies of the business owner and key personnel.

5. Business plan: A clear and comprehensive business plan outlining the goals and strategies of the business and how the loan will be used.

6. Guarantor information: Details of any guarantors, including personal identification and proof of income, if required by the lender.

It's important to check with the lender for specific requirements and to provide accurate and complete information to increase the chances of loan approval.

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Best Practices while applying for Government services online

1. Check whether you are eligible to apply for this service.

2. Check the documents required for application before applying.

3. Keep the documents in one folder for ease of access.

4. In case of any doubts, check whether the queries are already answered. You can check the FAQ section of the department website or use platforms like Tesz for this purpose.

5. Once you have applied, note down the application number to track the status.

6. Check the time required for the completion of the service. If the service is not completed within the due time, track the status online or reach out to the department.