Overview
Wealthbullet partners with fintech companies and other financial institutions to arrange short-term funding for SMEs and corporates. The goal here is to provide access to quick cash when it’s needed the most.
Key Benefits
- No collateral required
- Faster than bank funding
- Fast processing time as short as 10 working days.
- No hidden fees
Loan Amount
Minimum - AED 500,000
Maximum - AED 3 Million
Loan Tenure
Minimum - 6 months
Maximum - 24 months
Interest rate
0.75% to 2% per month (depending lenders and on client business risk analysis).
Security
- No collateral required.
- Loans are secured by guarantee cheques and legal agreements.
Processing Time
2 weeks (depending on how fast client provides the correct documents needed to raise funds.)
Arrangement Fee
- Lender Fees - 1% to 3.5% (depending on lender)
- Wealthbullet - 3%
Qualification Criteria
These are guidelines based on current situation in UAE. Each business is evaluated on its own merits.
Industries excluded (during Iran War)
- Pure trading
- Real estate
- Tourism related
Borrowing Company Criteria
- At least 2 years in operation
- Annual Turnover - AED 2 million or more.
- Average quarterly bank balance - AED 100K or more.
- No bounced cheques in the last 6 months.
- No loan defaults.
- No active court cases
Documentary requirements
B2C Businesses
- Trade License
- MOA / AOA Company documents
- Emirates ID and passport copies of all shareholders
- Ejari / Tenancy Contract
- Bank statements (Last 12 months)
- VAT returns (Last 4 quarters)
- VAT certificate
- Details of existing loans / facilities
- AECB consent form (Lender specific).
B2B Businesses (additional document requirements)
- Audited Financials (Last 2 years)
- Internal P&L and Balance sheet for current year.
- Sales Ledger (Last 3 months)