The service, available for a limited period, offers bank’s new and existing SME customers with opportunity to apply online for credit facilities up to Dhs2.5m and obtain in-principle approval within 7 days after application.
NBAD head of business banking group Haitham AlRefaie said that this is a unique and exceptional promotion designed by NBAD’s Business Banking Group to allow the nation’s SMEs access to quick funds for that special project they have been contemplating.
"NBAD is fully aware that SMEs are the UAE’s engine of growth and we also understand the challenges faced by this very important sector. This is why we have designed this special campaign to help this critical segment of the UAE economy," AlRefaie said.
The promotion is open to SMEs that have been in the business for at least two years, can produce at least six months of banks and two years of audited financial statements, and provide other required documents about the business.
The latest campaign follows other NBAD initiatives to help SMEs. The bank opened its first business center in February in Abu Dhabi Industrial City (ICAD), which is considered as home to many SMEs.
In January, NBAD became an administrator of the Khalifa Fund, which offers interest-free loans to SMEs.
