Overview
A fresh business loan is a first-time loan from the particular bank. Normally it is an unsecured loan. The different bank has different policies regarding the fresh business loan.
Eligibility Criteria
- A company should be minimum 1 yr old.
- There should be a business set-up.
- There should be an active company account.
Mandatory Requirements
- A valid copy of Passport, Resident visa, and Emirates ID of all the partners.
- Trade license.
- MOA or AOA.
- Liability letter from the bank.
- 6 months bank statement of the company account.
- Tenancy Contract.
- 3-5 Sales and purchase vouchers.