Securing financing can be a significant hurdle for small businesses and startups in the UAE. Fortunately, several institutions have streamlined their processes to offer loans with minimal documentation requirements. Here's a look at the top providers in 2025:
1. Biz2Credit & Magnati
Overview: Biz2Credit, a New York-based fintech company, has partnered with Abu Dhabi's Magnati to bring AI-driven lending solutions to the UAE. This collaboration aims to facilitate up to $1 billion in loans to SMEs over the next 18 months.
Key Features:
- AI-powered credit assessments using real-time payment data
- Streamlined application process with quick approvals
- Targeted support for SMEs in Abu Dhabi and plans to expand to Saudi Arabia
Source: Financial Times
2. CredibleX
Overview: Licensed by the Financial Services Regulatory Authority in Abu Dhabi Global Market, CredibleX offers embedded finance solutions designed to provide instant access to lending for SMEs.
Key Features:
- Proprietary technology enabling rapid credit risk assessment
- Goal to support 20,000 SMEs in 2024
- Collaboration with ADGM's SME Financing Digital platform, Numou
Source: SME10x
3. Mawarid Finance
Overview: Mawarid Finance is a Shari'a-compliant financial institution based in Dubai, offering a range of services tailored for SMEs.
Key Features:
- Products based on Islamic financial principles such as Murabaha and Wakala
- Services include working capital, invoice finance, and e-Murabaha
- Focus on supporting SMEs, which comprise 85% of UAE companies
Source: Wikipedia
4. Emirates Development Bank (EDB)
Overview: EDB is a government-owned bank established to support the UAE's economic development by providing financial assistance to SMEs and startups.
Key Features:
- Offers financing to startups and SMEs in sectors like manufacturing, healthcare, and technology
- Provides credit guarantees to encourage commercial bank lending
- Partners with banks like ADCB and Ajman Bank to offer co-lending options
Source: Wikipedia
5. Khalifa Fund for Enterprise Development
Overview: The Khalifa Fund offers specialized funding products targeting Emirati entrepreneurs in key industries, providing medium-term interest-free loans.
Key Features:
- Focus on sectors like healthcare, education, agriculture, ICT, tourism, and manufacturing
- Offers financing for working capital, receivables, and assets like vehicles and machinery
- Tailored support for Emirati entrepreneurs with businesses operating for at least two years
Source: Arabian Business
6. New Best Credit
Overview: New Best Credit provides fast and flexible business loans in the UAE, with a focus on minimal documentation and quick approvals.
Key Features:
- Quick approvals with minimal paperwork
- Low-interest rates with flexible repayment terms
- Eligibility for businesses operational for at least 1 to 2 years
Source: New Best Credit
7. Dubai Islamic Bank (DIB)
Overview: DIB offers Shariah-compliant financing options tailored for SMEs and startups seeking interest-free loan solutions.
Key Features:
- Loans ranging from AED 500,000 to AED 5 million
- Flexible repayment structures with quick approval processes
- Specialized support for SMEs and startups
Source: Biz Banking Consultancy
8. Mashreq Bank
Overview: Mashreq Bank provides innovative financing solutions with a focus on understanding individual business requirements.
Key Features:
- Interest rates between 14-19%
- Loan amounts up to AED 3 million
- Online application process with quick turnaround time for approvals
Source: Biz Banking Consultancy
9. Abu Dhabi Commercial Bank (ADCB)
Overview: ADCB offers versatile loan products, including working capital and equipment finance, with flexible repayment options.
Key Features:
- Loan amounts up to AED 3.5 million
- Processing fee of 2%
- Quick approval mechanisms with multiple financing streams
Source: Biz Banking Consultancy
These institutions provide a range of financing options tailored to the needs of SMEs and startups in the UAE, emphasizing quick approvals and minimal documentation to facilitate business growth.