Finance House launches SME Loans against Gold

Finance House launches SME Loans against Gold

Abu Dhabi - Finance House, one of the UAE’s leading financial institutions, today launched MENA’s first instant loan facility for Small and Medium-sized Enterprises (SMEs) in the UAE, against their gold holdings or gold-related investments.

While SMEs represent the vast majority of the UAEs businesses, securing a bank loan remains one of their biggest challenges and a major hurdle to their development. The aim of Finance House’s SME gold loan is to provide finance-seeking entrepreneurs with faster, easier and cost-effective access to liquidity to meet their various business needs.

Earlier in January 2022, Finance House also became MENA’s first licensed lender to offer gold loans to individuals across the UAE. Building on this experience and its now established expertise in the segment, the group has extended its offering by introducing a similar product line tailored to the specific needs of SMEs.

T.K. Raman, the CEO of Finance House, stated: “In the backdrop of evolving commodity markets, Finance House found an opportunity for customers to benefit from more favourable gold prices and get immediate money for the value of an otherwise idle asset, without having to sell it. We are extremely proud today to be pioneering another new segment in the UAE’s fast growing