Purpose:

Single line of credit for Working capital such as Over Draft, Trust Receipts, BP/BD/LCD, short term demand loans, Letter of credits, Bank Guarantees, and also long term requirements against the security of certain cash margin and / or immoveable property

Eligibility:

All business / Service concerns having sales turnover upto AED 100 millions and undertaking the business of trading in goods and services
 

Loan amount:

(A) The working capital limit can be extended up to 20% of the projected sales Turnover subject to following:

In case security is available (subject to maximum AED 3 millions)

1. 60% of the value of Mortgage/Assignment

2. 50% of the value of possessory pledge

(B) In case collateral security is not available (subject to maximum AED 3 millions)

1. 60% cash margin if establishment is less than 3 years old

2. 50% cash margin if establishment is > 3 years

Security:

Assignment / mortgage of the immoveable property, personal guarantee, etc.

Rate of interest*:

Competitive Rate of interest prevailing at the time of sanction

Period:

Working capital Finance–Renewable annually
Term loans-Up to 7 years