Aseel Business Finance provides financial solutions to SMEs. Whether it’s the day to day requirement of working capital or the SMEs wish to purchase any asset/service, Aseel’s Business Finance solutions will help them solve their financing issues with additional benefits of free key-person protection, and faster turnaround time.
Aseel Business Finance Features:
- Minimum monthly turnover AED 75,000 to apply
- Free Key-person Takaful Protection
- Maximum term is up to 60 months
- Minimum age of business should be 2 years
- Constitutional documents where applicable:
Chamber of Commerce Certificate
Commercial Register Certificate
Memorandum/Articles of Association
Service Agency Agreement
Notarized Power of Attorney
- Key person’s & Partner (s) Identity Documents (Passport, Emirates ID, Partner’s passport, Partner’s Emirates ID, Key person’s Visa page (if not UAE National))
- Latest 6 months bank statement
Amount: The total amount of money borrowed, also referred to as the principal amount.
Rate (%): This is the annual interest flat rate on the product. This is not the APR, which is going to be calculated in this example.
Years: This is the original term or length of the product, stated in years.
Effective Monthly Payment: This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%): The calculated Annual Percentage Rate(APR) is determined using the annual interest rate on the product plus fees and other costs. The APR is useful when comparing two or more products with different interest rates and fee structures.