Non-listed companies are those companies that are not prevailing in the lists of the UAE banking networks. First of all, you need to know the basic difference between both listed and non-listed companies. The major difference is their presence within the documents of banks if a company owner wants to know the status of his/her company in the papers of banks. So, he will check the status via contacting the bank staff or by searching their websites.
Most of the companies working here in UAE are trying to get a loan, which is in the form of business loan and personal loan mostly. Whether they are functioning at a low scale or a high level, they like to avail the loan for the sake of their business growth. Most of the owners wish to be a selected members on the lists of the banks so that their companies will be more popular. But unfortunately, the facility of the loan will be given only to those companies that are involved in the bank’s lists automatically. To know more about Loan for Non-Listed Companies in UAE, let’s find out the ways and features attached to it. Gain knowledge about banks that are giving loans to Non- listed companies and the characteristics that should be involved to make your company listed.
Non-listed companies and availability of the Loans
If your company is not in the list of banks and you want to get a personal loan or business loan, so do not worry. To get the loans from banks you will have to face a simple process as the normal person or a salaried person faces. During loan taking process you will have to express your presence in UAE, for such purpose the various proofs of your identity are essential. Especially, if you are an expat so, your valid ID card will be important. The bank selects only those companies that are prominent and doing a good job in the finance market.
Additional specialties associated with Listed and Non-Listed firms
There are many other things are attached to those firms that make them listed companies. Like they are financially strong and can overtake small companies via their amazing services. Similarly, if your firm is receiving a good amount at the end of the year or even can generate a good income on monthly basis. It means, your firm will be automatically selected into the bank’s list. For such companies, loan taking is so much easy and bank will select them to give them loans with easy terms and conditions. But if firm owners are not in the list but still want Loan for Non-Listed Companies in UAE for the betterment and expansion. So, they can apply via formal means like other locals and expats living in UAE apply. That means banks will not going to give you special favors related to their loan facility. You will have to put your effort by yourself. An owner will be able to get a loan only if his company is capable to pay the loan installments on regular basis.
What are the mandatory things are involved during loan taking? What are the Requirements for eligibility?
- The major thing that bank will check is whether you are capable of this loan or not and the earning capacity range of your firm.
- Bank will ask about the various proofs as well, which will be necessary for the verification process. Your location, residential area plus the area of your operating company will be also checked.
- The ID card will show your permanent address and it would be an authentic address to get Loan for Non-Listed Companies in UAE.
- Bank will also require a license of various types, for example, a business license or trading license and a driving license.
- There is a specific limitation on the age factor and on the minimum salary range for getting a loan of any kind in UAE. The income range is from 3000- 8000 AED. The age would be not less than 21 years.
- The amount of a personal loan will be normally about 4 million AED for the locals and for the expats the amount will be 2 million AED.