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SME

Request for Consultation in Funding

The financial consulting process includes the analysis of the financial study, cash flow, business plan, and the financial performance of the implemented or planned projects, so that the strengths and opportunities for improvement are clarified for the study, and the mechanism for its optimal treatment.
Subsidiary Procedural Service
Copy of National ID.
Copy of the Passport.
Copy of the Family Book.
1-Register on the Fund's website: thefund.ae
2-The applicant uploads the documents through the fund's website.
3-Communicate with the applicant to schedule a consulting session for the purpose of financing.
4-Executing the consultative session, reviewing the work plan, the financial plan, and related documents.
5-When the fund team confirms that the applicant has completed all the required documents, an application is opened through the fund's registration system, and the funding request is completed through the applicant.
The beneficiary shall be a UAE national.
The requirements of GCC nationals are subject to the approval of the Accreditation Committee, in accordance with Administrative Resolution No. 14 of 2016.
The registration process for the service is done through: Mohammed Bin Rashid Fund for SME Website: https://www.thefund.ae/
Upon receiving the request, the team selects the appropriate application channel, which is through the institution's service center, or through Microsoft Team communication platforms (Microsoft Team).
30 - 60 Minutes
Individuals Category - New Entrepreneurs from Citizens.
Members Category - National Projects Owners.
8:30 AM - 15:30 PM

Providing entrepreneurial advice to start-up and existing enterprises, as well as explaining other services and privileges granted by the Foundation to its members. And directing applicants to the appropriate services according to the needs related to their project.

1.      What are the most important conditions for accepting a funding request?
•        The enterprise shall be wholly owned and managed by UAE national(s).
•        Enterprise to be located in Dubai.
•        The applicant shall personally implement and develop the business plan.
•        The applicant should devote time and efforts for managing the enterprise.
•        The age of the enterpriser shall not be less than 21.
•        For credit loan: The age of the project owner should not exceed 65 years during the repayment period.
•        The validity of the trade license shall not exceed 5 years
•        Enterprise to be located in Dubai.
•        For those with new experiences in entrepreneurship; the enterprise should meet the requirements and be economically viable.
•        Reference: https://thefund.ae/en/services   

2.      What are the documents required to accept the application?
•        Copy of the passport
•        Copy of the family book
•        Biography
•        Sample Project Creation Program - (Project Management)
•        Project executive summary/work plan
•        Feasibility Study
•        Estimated cash flow statement less than 3 years

3.      If the applicant is not working, is the application accepted?

Yes

4.      What activities can be funded?
•        Projects in all sectors are eligible for funding, except: (Applicable to Seed Capital Loan, Invoice / LPO Finance, Term Loan, Asset Finance Loan, Credit Loan & Crowd Funding Loan)
o       Real estate and construction companies
o       Gold Trading Companies.
o       Cafes and restaurants
o       Document clearing entities and Brokerage firms
o       Cafes and Shops Serving Tobacco
o       Consultancy/advisory firms
o       Public benefit organizations
o       Pets Trading and Services
o       Car Rental Companies
o       Recruitment Agencies
o       Trading in Nationally/ Internationally Banned Products
o       Food and Beverage Activities (*Only Permitted for Expansion Finance)
o       Food Trading
o       General trade
o       Beauty Centers and Salons
o       Other activities not followed by Sharia Compliant
o       The minimum financial contribution of 20% is determined for the applicant for funding according to the decision of the committee and depends on the type of activity and the percentage of risk in it, and it is paid in advance.
o       That an operations manager and an accountant be appointed with the approval of the fund before starting the project.
•        Reference: https://thefund.ae/en/services  

5.      What is the maximum grace period?
24 months

6.      What is the maximum funding limit?
Million dirhams directly from the fund
3 Million Dirhams Credit Guarantee

7.      How much are the benefits?
None

8.      What is the minimum/ maximum repayment period for payments?
The minimum 30 days and the maximum 5 years

9.      Is the funding request accepted if there is a debt to one of the banks?
Yes, provided that the percentage of deductions for the applicant is less than 50% according to the Central Bank Law

10.    The necessity of having the Fund as a partner in the project license (legal partner)?
No, the Fund does not own any stake in any license funded by the Fund

11.    What are the procedures in case of project failure / non-payment of payments?
Taking into account the reasons for default, and trying to reschedule the remaining loan amount in easy installments

12.    Does the fund follow up on the financial management of the project during / after the financing and payment period?
Yes, the fund team will follow up after the financing period until the loan is repaid

13.    How many projects are financed per person in the same period?
The applicant is not entitled to apply for more than one project at the same time

14.    Would it be possible to apply for funding for a new project after the first project payments have been completed?
Only in case of obtaining Invoices and Local Purchase Orders Service

15.    Are home projects funded (Intelaq)?
Yes, in the case of accelerating the project from the Intelaq license, and it is required to transfer the license from a home to a trade one

16.    Is an existing project required when applying?
No

17.    What is the funding for (assets, transportation, etc.)?
Depends on the type of project activity, and each project has a clear plan agreed upon by both parties. Does the Funding cover the basic cost of the project? Related to capital or assets, equipment, and financing may cover the operational cost for up to 6 months only, and the operational cost is meant: Any kind of monthly wages for the operation of the project or its productivity

18.    Is the funding done by the fund directly or through the bank?
All services are funded directly by the Fund, except for the credit guarantee service provided through the banks contracting with the Fund and credit guarantee service through Beehive.

19.    Does the fund take a percentage of the project's profits?
No

20.    Does the fund conduct a feasibility study for the project with the applicant?
No, the fund analyzes the feasibility study submitted by the client, and then the fund team specializes in a feasibility study at an advanced level in terms of financial and detail.

21.    Does the fund guarantee the project in the bank?
Yes, if the bank agrees to fund the project.Providing entrepreneurial advice to start-up and existing enterprises, as well as explaining other services and privileges granted by the Foundation to its members. And directing applicants to the appropriate services according to the needs related to their project.

1.      What are the most important conditions for accepting a funding request?
•        The enterprise shall be wholly owned and managed by UAE national(s).
•        Enterprise to be located in Dubai.
•        The applicant shall personally implement and develop the business plan.
•        The applicant should devote time and efforts for managing the enterprise.
•        The age of the enterpriser shall not be less than 21.
•        For credit loan: The age of the project owner should not exceed 65 years during the repayment period.
•        The validity of the trade license shall not exceed 5 years
•        Enterprise to be located in Dubai.
•        For those with new experiences in entrepreneurship; the enterprise should meet the requirements and be economically viable.
•        Reference: https://thefund.ae/en/services   

2.      What are the documents required to accept the application?
•        Copy of the passport
•        Copy of the family book
•        Biography
•        Sample Project Creation Program - (Project Management)
•        Project executive summary/work plan
•        Feasibility Study
•        Estimated cash flow statement less than 3 years

3.      If the applicant is not working, is the application accepted?

Yes

4.      What activities can be funded?
•        Projects in all sectors are eligible for funding, except: (Applicable to Seed Capital Loan, Invoice / LPO Finance, Term Loan, Asset Finance Loan, Credit Loan & Crowd Funding Loan)
o       Real estate and construction companies
o       Gold Trading Companies.
o       Cafes and restaurants
o       Document clearing entities and Brokerage firms
o       Cafes and Shops Serving Tobacco
o       Consultancy/advisory firms
o       Public benefit organizations
o       Pets Trading and Services
o       Car Rental Companies
o       Recruitment Agencies
o       Trading in Nationally/ Internationally Banned Products
o       Food and Beverage Activities (*Only Permitted for Expansion Finance)
o       Food Trading
o       General trade
o       Beauty Centers and Salons
o       Other activities not followed by Sharia Compliant
o       The minimum financial contribution of 20% is determined for the applicant for funding according to the decision of the committee and depends on the type of activity and the percentage of risk in it, and it is paid in advance.
o       That an operations manager and an accountant be appointed with the approval of the fund before starting the project.
•        Reference: https://thefund.ae/en/services  

5.      What is the maximum grace period?
24 months

6.      What is the maximum funding limit?
Million dirhams directly from the fund
3 Million Dirhams Credit Guarantee

7.      How much are the benefits?
None

8.      What is the minimum/ maximum repayment period for payments?
The minimum 30 days and the maximum 5 years

9.      Is the funding request accepted if there is a debt to one of the banks?
Yes, provided that the percentage of deductions for the applicant is less than 50% according to the Central Bank Law

10.    The necessity of having the Fund as a partner in the project license (legal partner)?
No, the Fund does not own any stake in any license funded by the Fund

11.    What are the procedures in case of project failure / non-payment of payments?
Taking into account the reasons for default, and trying to reschedule the remaining loan amount in easy installments

12.    Does the fund follow up on the financial management of the project during / after the financing and payment period?
Yes, the fund team will follow up after the financing period until the loan is repaid

13.    How many projects are financed per person in the same period?
The applicant is not entitled to apply for more than one project at the same time

14.    Would it be possible to apply for funding for a new project after the first project payments have been completed?
Only in case of obtaining Invoices and Local Purchase Orders Service

15.    Are home projects funded (Intelaq)?
Yes, in the case of accelerating the project from the Intelaq license, and it is required to transfer the license from a home to a trade one

16.    Is an existing project required when applying?
No

17.    What is the funding for (assets, transportation, etc.)?
Depends on the type of project activity, and each project has a clear plan agreed upon by both parties. Does the Funding cover the basic cost of the project? Related to capital or assets, equipment, and financing may cover the operational cost for up to 6 months only, and the operational cost is meant: Any kind of monthly wages for the operation of the project or its productivity

18.    Is the funding done by the fund directly or through the bank?
All services are funded directly by the Fund, except for the credit guarantee service provided through the banks contracting with the Fund and credit guarantee service through Beehive.

19.    Does the fund take a percentage of the project's profits?
No

20.    Does the fund conduct a feasibility study for the project with the applicant?
No, the fund analyzes the feasibility study submitted by the client, and then the fund team specializes in a feasibility study at an advanced level in terms of financial and detail.

21.    Does the fund guarantee the project in the bank?
Yes, if the bank agrees to fund the project.