Islamic loans for businesses

What are Islamic Business Loans?

Islamic business loans, also known as Sharia or Halal financing, are designed to meet the needs of companies that wish to adhere to Islamic principles in their financial operations. Unlike conventional business loans, Islamic loans have other features, based on Islamic law, which prohibits the payment or receipt of interest. The main emphasis is on socially responsible financing.

Let's consider the main characteristics of Islamic loans for individual enterprises and legal entities.

1. Such loans are issued on the principles of risk sharing, profit sharing, and operations secured by assets between the creditor and the borrower. That is why it is possible to obtain loans without interest (Riba). However, possible profits or losses are shared according to the agreement.
2. In addition, such financing is as ethical as possible. It is not provided for companies that conduct prohibited activities related to gambling, alcohol, etc.
3. Islamic loans are usually secured by assets, goods, or other property

Business loan calculations for 3 years (example)

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Details of companies offering the financial services:

SME loans

Head office’s address: 2 George Street, Chester CH1 3EQ

Phone: +44 1244-506-279

Web-site: https://www.smeloans.co.uk/

Startup Loans

Head office’s address: London

Web-site: https://www.startuploans.co.uk/