How to Get a Business Loan in UAE Without Bank Statement

Are you looking for a business loan in UAE without a bank statement? If yes, you might be wondering if it is possible and how to get one. In this blog post, we will explore the options and challenges of getting a business loan in UAE without a bank statement.

How to Get a Business Loan Without Bank Statement in UAE

Why Ditch the Bank Statement?

  • New Businesses: Fresh ventures often don’t have a long banking history, making them ineligible for loans.
  • Freelancers & Gig Workers: Your income might not fit neatly into a bank statement, like water through a cracked clay pot.
  • Alternative Revenue Streams: Businesses with income through platforms like Amazon or PayPal might struggle to show it on paper.

Why do banks require a bank statement?

A bank statement is a document that shows your financial transactions and activities in a given period. It is usually required by banks to verify your income, expenses, cash flow, and credit history. A bank statement can help banks assess your ability and willingness to repay the loan, as well as your risk profile.

How to get a business loan without a bank statement?

Getting a business loan without a bank statement in UAE is not easy, but not impossible. There are some alternatives and exceptions that you can explore, such as:

  • Government grants and programs: There are some initiatives and funds that support small and medium enterprises (SMEs) in UAE, such as the Khalifa Fund for Enterprise Development and the Mohammed Bin Rashid Fund. These programs offer loans and guarantees to eligible businesses, with less stringent requirements than traditional banks. However, you still need to provide some documents, such as your passport, trade license, business plan, and resume.
  • Islamic financing: Some Islamic banks and institutions offer Sharia-compliant financing options, such as Mudarabah or Mudaraba This is a partnership contract where one party provides the capital and the other party provides the expertise and management. The profits are shared according to a pre-agreed ratio, and the losses are borne by the capital provider. This type of financing does not require a bank statement, but it depends on the trust and reputation of the parties involved.
  • Crowdfunding: This is a way of raising funds from a large number of people, usually through online platforms. You can pitch your business idea or project to potential investors or donors, and offer them some rewards or equity in return. Crowdfunding can help you get funding without a bank statement, but you need to have a compelling and attractive proposal, as well as a strong network and marketing strategy.
  • Private investors: These are individuals or groups who are willing to invest in your business, either as debt or equity. They can be your friends, family, colleagues, or angel investors. Private investors can provide you with funding without a bank statement, but you need to convince them of your business potential, viability, and profitability. You also need to agree on the terms and conditions of the investment, such as the interest rate, repayment period, ownership, and control.
  • Explore P2P Lending Platforms: These online platforms connect lenders and borrowers directly, offering more flexible options for businesses with unique financial profiles.

Important Tips (Must Read)

  • Prepare a Compelling Case: A well-crafted business plan with strong financial projections can speak volumes even in the absence of bank statements.
  • Build a Strong Credit Score: Maintain financial discipline and settle existing debts to improve your creditworthiness.
  • Seek Expert Guidance: Consult financial advisors or loan specialists familiar with alternative financing options in the UAE.

What are the challenges of getting a business loan without a bank statement?

While there are some ways to get a business loan without a bank statement in UAE, they also come with some challenges and drawbacks, such as:

  • Limited options: Not all banks and lenders offer loans without a bank statement, and those who do may have higher interest rates, lower loan amounts, shorter repayment periods, or stricter eligibility criteria. You may also face more competition and scrutiny from other applicants and providers.
  • Higher risk: Getting a loan without a bank statement means that you have less proof of your financial stability and credibility. This can make you more vulnerable to fraud, default, or legal issues. You may also have less protection and recourse in case of disputes or problems with the loan provider or partner.
  • Lower quality: Getting a loan without a bank statement may affect the quality and efficiency of your business operations and growth. You may have less cash flow and working capital, less access to credit and financial services, less flexibility and scalability, and less transparency and accountability.


Getting a business loan without a bank statement in UAE is possible, but not easy. You need to explore the alternatives and exceptions, such as government programs, Islamic financing, crowdfunding, and private investors. However, you also need to be aware of the challenges and drawbacks, such as limited options, higher risk, and lower quality. Therefore, it is advisable to consult a financial expert before applying for any loan, and to prepare a bank statement if possible, as it can improve your chances of getting a better and safer loan.


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