Applying for a business loan in the UAE can be a tricky matter. Research shows that only 4 per cent of the bank lending in the UAE goes to small and medium enterprises (SMEs), which make up the lion’s share of businesses. But the tide is changing and the lending from banks and financial institutions to SMEs is increasing. From realising the importance of SMEs to the economy to the UAE Cabinet stipulating that government agencies, institutions and companies wholly or partially owned by the government will allocate 5 per cent of their budget to SMEs, things are looking up for smaller enterprises in terms of borrowing from banks.
Published: Gulf News- May 29,2014