Security Advice

SME Banking

Mashreq Business Loan - FAQ's

1. What is a Mashreq Business Loan?

A Mashreq Business Loan is an installment loan for business entities to meet their working capital requirement and other business needs.

2. What type of business entities are eligible to apply for an SBL?

Following entities are eligible to apply for an SBL:

  1. Limited Liability Company (LLC)
  2. Sole Proprietor
  3. Partnership
  4. Free Zone Companies
  5. Branches/Subsidiaries of Offshore Entities

3. What are the documents I need to provide to avail Mashreq Business Loan?

To avail SBL, you must initially submit the following documents for the purpose of evaluation:

  • An Application Form.
  • Copy of valid Trade License.
  • Last 12 months Bank Statement (Business)
  • Copy of Passport with valid Residence Visa.
  • Copy of Utility Bills e.g. office telephone or electricity bill.
  • Copy of signed Memorandum and Articles of Association of the business
Once the above documents have been submitted to Mashreq, your application will be evaluated.

4. What is the minimum and maximum loan Mashreq can offer?

The minimum loan amount is AED 125,000/- and maximum is AED 500,000/-.

5. What is the minimum and maximum tenor I can apply for?

The minimum tenor is 6 months and the maximum tenor is up to 48 months

6. What are the repayment modes available?

The repayment mode is through a standing instruction from a Mashreq account.

7. Can I go for a top-up loan in the future?

Yes. Once you have completed 12 months of payments on the loan, you may apply for a top-up loan.

8. Can I go for the early settlement of my loan?

Yes. You may go for an early settlement of your loan. This would be subject to pre-closure charges, as applicable.

9. Can I make partial repayments?

No. Mashreq does not provide any option for partial repayments.

10. Do I have to open an account with Mashreq?

Yes. You have to open a current account (in case you do not have one already) for your loan amount to be credited to that account and you to enjoy a host of other benefits.

11. Who do I contact for any service related query?

As an SBL customer, you will have access to:

  • Mashreq’s Direct Banking Centre for all your queries
  • Mashreq online for an enhanced experience of convenience

Terms and conditions apply. All loans are granted at the sole discretion of Mashreq.

For more information, call on +971 (4) 424 4763 or walk into any Mashreq branch.