Request for Asset Funding Loan
Asset Funding Loan
provided by Dubai SME is an interest-free product in which the Foundation
covers a maximum of 80% of the value of assets and is reimbursed by the
entrepreneur in monthly installments.
Subsidiary
Procedural Service
Copy of National ID.
Copy of the Passport.
Copy of the Family Book.
Trade license + copy of the memorandum of association (not required for institutions owned by one individual) + office from Ejari + warehouse from Ejari (if any) + list of employees registered with the Ministry of Labor.
Last 2 Year's Audited Financials / In House Financials + Bank Statements (for 6 months). In case of multiple active company accounts held by different banks, all accounts statements are required for audit.
Original invoice/ price offer from authorized supplier/ distributor/ plant.
NOTE: The institution's credit team may request additional documentation.
1-Sign up in the Fund's website: thefund.ae
2-Initial approval of the request and guiding the applicant in submitting the request for funding.
3-The applicant meeting with the fund team to review the work plan, the financial plan, and related documents.
4-The applicant uploads the documents through the fund's website.
5-Field visit to view the existing project (if required).
6-Presenting the idea/ request to the credit committee.
7-The applicant signs the financing contract and the payment schedule, in addition to other documents, and obtains copies of them.
Request for
Consultation in Funding
- The trade
license of the company is valid and all necessary legal approvals are
available.
The equity ratio
must be 80:20 (the applicant must have a minimum equity contribution of 20%).
- The total period
should not exceed 72 months (6 years) from the date of signing the contract (including
maximum 12 months grace period).
- Company
insurance coverage is mandatory.
- Its assets will
be mortgaged to the Emirates Integrated Registries
Company (EIRC) for the
registration of movable and pledged assets.
- The applicant will be charged the
fixed administrative fees to cover the mortgage service fees with the Emirates
Integrated Registries Company (EIRC) and the Roads and Transport Authority.
- Submitting equal
monthly installment checks + a security check for the finance amount
(according to the fund's policy).
- Signing an
agreement with the institution in the presence of a notary public.
- The company must
cover the cost of the notary.
- Financing
previously owned/used assets is allowed on a case by case basis.
- The evaluation
of the asset is to be submitted by an approved appraisal body.
- Refinancing is
limited to existing unencumbered assets.
- The purchase or
sale of a controlling interest in/acquisition of the company is prohibited.
- The company can
benefit from other asset financing provided that the first asset financing is
fully settled subject to MBRF’s review & approval
Mohammed Bin
Rashid Fund for SME Website: www.thefund.ae
Individuals Category - New Entrepreneurs from Citizens.
Members Category - National Projects Owners.
What are the terms
and conditions?
The beneficiary
shall be a UAE national
The enterprise
shall be wholly owned and managed by UAE national(s)
Enterprise to be
located in Dubai.
The applicant
shall not obtain more than 5 trade licenses in the Emirate of Dubai. In case
of existing enterprises funding, the applicant shall not obtain more than 6
trade licenses in the Emirate of Dubai
The validity of
the trade license shall not exceed 5 years
The age of the enterpriser
shall not be less than 21
What is the
maximum amount to fund assets?
The maximum limit
is 300,000 dirhams.
How much is the
interest rate?
None
What is the
maximum grace period in asset financing?
1 year (12
months).