Dubai - Mubasher: Commercial Bank of Dubai (CBD) has partnered with Network International, a provider of digital commerce services in the Middle East and Africa (MEA) region, to offer merchant clients a pre-approved business loan, the Emirates News Agency (WAM) reported.
Under the partnership agreement, the Dubai-based bank will provide Network International's retail and e-commerce clients business loans against their Point of Sale (POS) machines or payment gateway proceeds.
Hence, Network’s clients will benefit from CBD's high business loan amounts with competitive interest rates and repayment tenure of up to 36 months.
The General Manager – Personal Banking Group, Amit Malhotra, said: "The collaboration with Network International is in line with our commitment to promote the overall business environment in the UAE and support SMEs and start-ups as they are a vital contributor to the growth of the economy."
Meanwhile, the Regional President UAE at Network International, Ahmed bin Tarraf, commented: "As the country’s leading acquirer, we remain committed to leveraging our expertise and network to support small, medium, and large UAE companies with their business objectives and to achieve their growth potential."
