The Mohammed Bin Rashid Establishment for Small and Medium Enterprises Development (Dubai SME), a vital subsidiary of the Dubai Department of Economy and Tourism (DET), has unveiled a strategic initiative to support its members in the aftermath of recent adverse weather events. This initiative, spearheaded by the Mohammed Bin Rashid Fund for SMEs, offers crucial financial assistance to Emirati small and medium-sized enterprises (SMEs) grappling with the impact of damaged properties due to inclement weather.
Dubai SME members who qualify for the program can access interest-free loans of up to Dh300,000, coupled with grace periods ranging from 6 to 12 months. These funds are specifically earmarked for repairing or replacing essential assets vital to their business operations. Additionally, eligible businesses will benefit from interest-free business loans covering material damages and deferred loan repayments to ease their financial strain during this challenging period.
Abdul Baset Al Janahi, the CEO of Dubai SME, emphasized the collaborative effort to mitigate the adverse effects of recent weather conditions. He noted that the initiative aligns with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum and the supportive guidance of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum.
Affected Dubai SME members seeking assistance can initiate the process by submitting necessary documents to the designated relief financing committee through the Mohammed bin Rashid Fund for SME website, www.thefund.ae, or by contacting the customer service centre at 600 555 559.
