These loans are now available to companies with only 2 years of business vintage. This will help the small businesses meet their funding needs for business expansion. In addition the loan size can now go up to Dhs1.5m.
Small Business Loan from Mashreq is a collateral free multipurpose amortizing loan offering, with a host of benefits like free business value current account with no minimum balance requirement, free debit card and a free cheque book. Customers can avail Sharia'h Compliant solutions as well.
Rohit Garg, Head of Business Banking at Mashreq commented, "The SME market is witnessing a strong comeback and there is a positive momentum in the recent period. With the enhancement of the Small Business Loan offering, we are continuing our support towards the growth and sustainability of this segment. Our range of products and services reflect on Mashreq's commitment as proud partners of SME's. Our wide branch network certainly assists to accommodate customer requirements wherever they maybe."
The bank is also running a special offer for this product wherein customers will receive a free laptop with Windows 8, Microsoft office and antivirus software.
Business Banking from Mashreq offers a comprehensive range of products and solutions, which cater to the needs of SMEs at every stage of their Business life cycle. Other financing solutions include Trade and Working Capital solutions and the unique Merchant Over Draft Facilities which is exclusively offered based on the company's Point of Sale throughput.
Furthermore, the Bank also offers Business Accounts & Debit Cards, Foreign Exchange and remittance solutions and Business Insurance for the benefit of the SMEs.
Source: http://www.ameinfo.com/mashreq-upgrades-business-loan-loan-amount-335435
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