In Dubai, the private loan has become a popular instrument as a financing option available to private Emirati lenders for private Emirati or Emirati entrepreneurs without the use of an Emirati bank.
In Dubai, a private loan is dedicated to help Emirati people as well as expatriates living in the Emirates and who are facing problems when applying for a loan with an Emirati bank.
In Dubai, private financing is possible for a loan applicant by using two ways of borrowing, such as adressing a demand to an Emirati private lender or using the services of an Emirati P2P (Peer to Peer ) lending platform.
In Dubai, private borrowing is a useful way to get access to funds for people who have financial emergencies, however frauds and scams are polluating this business as in several cases, borrower take the risk to fall in traps where upfront fees are demanded without proving any loan.
PRIVATE LENDING IN DUBAI