Mashreq, one of the UAE’s leading financial institutions, announced that its Business Banking, dedicated to cater to the SME segment, has launched upgraded trade & working capital facility for the small business segment.

The new upgrade of the product is a partially secured facility offered to customers to meet their working capital requirement and for import/export of goods and or services. The facility can be tailored as per the needs to the clients and has no limits in terms of size, a statement said.

Available across the bank’s extensive branch network across the UAE, Trade & Working Capital will offer flexible collateral requirements, trade finance and foreign exchange solutions delivered by highly trained staff. Furthermore, the structuring of the product is convenient and customers will be able to decide the underlying products.

Trade & Working Capital facilities from Mashreq offers the small business segment the access to trade finance tools and financing options at competitive rates assisting them to trade in a secure and a safe manner. The upgrade of the product includes less collateral and faster turnaround times.

Rohit Garg, head of Business Banking at Mashreq said, “SME is an important contributor to the economy and plays an important role in the growth of the industry.”

“There is a constant need to extend financial solutions parallel to the increased requirements of this segment to ensure its development. At Mashreq, our focus lies in offering tailor-made products that will serve the business objectives of our SME’s underlying our commitment to this segment,” he added. - TradeArabia News Service