Mohammed Bin Rashid Fund Launches Two Programs To Inspire New Business And Enterprise Growth
AED 250,000 in Seed fund and credit guarantee on up to AED 3 million on offer for Emirati entrepreneurs
The Mohammed Bin Rashid Fund (MBRF) in Dubai SME, the agency of the Department of Economic Development (DED) mandated to develop the small and medium enterprise (SME) sector, has launched two programs for Emirati entrepreneurs with a Seed fund for early stage businesses and a Credit Guarantee Scheme (CGS) for growth-oriented SMEs.
MBRF has opened two funding windows to achieve the mandate of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai to provide early stage seed capital interest free loans up to AED 250,000 to entrepreneurs implementing businesses resident in the business incubator on achievement of business milestones, and business loans and financial guarantees for projects in partnership with banks.
Abdul Baset Al Janahi, Chief Executive Officer of Dubai SME, commented:
Emirate: Dubai
Date: Mar 19, 2013
Back