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Dubai SME Extends Lifeline to Businesses Hit by Severe Weather5 min read

Author: Omar Sami
Managing Partner Attorney at German Law Legal- & Tax Consultant

Dubai SME, a subsidiary of the Dubai Department of Economy and Tourism (DET), has launched an initiative to help Small and Medium-sized Enterprises (SMEs) affected by recent severe weather conditions. The initiative offers interest-free loans and grace periods to eligible SMEs, enabling them to access financial support for repairing or replacing damaged properties.

The recent severe weather in the UAE has resulted in property damage and operational disruptions for many businesses, posing threats to their survival and growth. This initiative aims to provide much-needed relief to affected businesses. The Mohammed Bin Rashid Fund for SMEs, an essential arm of Dubai SME, is leading the effort. Eligible SME owners can apply for interest-free loans of up to AED 300,000 with flexible repayment terms, allowing them to repair any damages without immediate financial strain.

Dubai SME urges its members impacted by the recent adverse weather conditions to take advantage of this opportunity for support. Affected businesses can submit necessary documents to the Fund’s designated relief financing committee via the Mohammed bin Rashid Fund for SME website or by contacting the customer service center.

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