Wio Business: Embedded Lending Guide (Business Loans via Partner Platforms)

What is Embedded Lending?

Embedded Lending allows you to apply for a Wio Business Loan directly through trusted partner platforms (such as Creditum) without leaving their website. It brings business financing right into the platforms you already use to manage your company.

Available Loan Types

1. Simple Business Loan (Unsecured) – Currently Available

A straightforward, collateral-free business loan designed for quick access to growth capital.

• Loan Amount: From AED 50,000 up to AED 3,000,000

• Interest Rate: 9% to 13% per annum (P.A.)

• Processing Fee: 1% (one-time)

• Repayment Terms: Flexible durations from 6 to 48 months

• Collateral: None required (unsecured)

• Approval Timeline: Loan offer provided within 7 business days

2. Sales-Backed Loan – Coming Soon

A financing solution designed for businesses with regular point-of-sale (POS) card machine or online payment gateway sales (e.g., Network International, Stripe, PayTabs, Qlub). Future card sales act as the basis for repayment via an Assignment Letter, requiring no physical collateral.

Eligibility Criteria (Simple Business Loan)

To qualify for a Simple Business Loan, your company should meet the following:

• UAE-registered business operating for at least 2 years.

• Minimum monthly revenue of AED 30,000.

• Average bank balance of AED 20,000 over the last 6 months.

• Maximum of one existing unsecured term loan with any bank.

• A Wio Business current account (if you do not have one, it will be set up automatically during the application).

What Documents Will You Need?

During the short online application, you will be asked to upload:

1. Trade License: Valid copy for your UAE-registered company.

2. Proof of Borrowing Powers: Document confirming borrowing authority (Memorandum of Association – MOA, Board Resolution – BR, or Power of Attorney – POA).

3. Emirates ID: For the authorized signatory.

4. Bank Statements: Last 6 months of business bank statements across all your UAE accounts (or connect via Open Banking for faster verification).

5. VAT Returns (if VAT-registered): Your last 2 filed VAT statements.

6. Office Lease Agreement / Ejari.

How to Apply for a Wio Business Loan via Partner Platforms

Application Steps at a Glance:

1. Visit Partner Platform

2. Select Wio Business Loan

3. Sign In or Sign Up

4. Submit Details

5. Accept Offer & Receive Funds

Step 1: Start on the Partner Website

Visit the partner platform (such as Creditum) and select Wio Business Loan.

Step 2: Sign In or Sign Up

• Existing Wio Business Customers: Click I have a Wio Business bank account and log in using your Wio Business email and password.

• New Customers: Click I’m not a Wio Business customer yet to begin your joint bank account and loan application.

Step 3: Select Your Loan Type

Select Simple Business Loan to proceed.

Step 4: Fill in Your Business Information

1. Borrowing Authority: Select and upload your authority document (MOA, BR, or POA).

2. Company Profile: Enter your number of employees and a short description of your business activities (under 300 characters).

3. VAT Details: If VAT-registered, select your filing frequency and upload your last 2 filed VAT statements.

4. Company Bank Accounts: Add details for all bank accounts held by your business (Tip: Linking your accounts via Open Banking speeds up credit assessment).

5. Review & Submit: Check your application summary and click submit.

Step 5: Track Application Status

You can track the live progress of your application directly from your partner portal dashboard.

Step 6: Review Offer & Receive Funds

1. Once approved (typically within 7 business days), review your maximum approved loan limit.

2. Customize your loan amount and select your preferred repayment term (6 to 48 months).

3. Review your monthly repayment schedule and confirm your primary Wio Business AED account for automatic monthly debits.

4. Review the Borrowing Agreement and sign digitally using the SMS verification code sent to your registered mobile number.

5. Once signed, the funds are credited directly to your Wio Business AED current account.

Frequently Asked Questions (FAQs)

• Can I apply if my business has multiple signatories?

• Currently, applications through partner platforms support businesses with a single authorized signatory. Multi-signatory applications will be supported in an upcoming release.

• Can I cancel my application?

• Yes, you can cancel your application anytime before signing the digital borrowing agreement. Once the agreement is signed and funds are disbursed, early loan settlement rules apply.

• What happens to my new bank account if my loan is not approved?

• If you are a new customer and your loan application is declined, the linked bank account opening request will also close. You can still apply for a standard Wio Business current account directly through the Wio Business app.

• Can I reapply if my loan application was declined?

• Yes. You are eligible to submit a new application after 90 days.