An Islamic loan for startup consists of a halal starting business financing facility granted though an Islamic lender which can be an Islamic bank or a Muslim investor and dedicated to a Muslim or Muslima startup entrepreneur.
An Islamic startup loan follows the objectives to provide with access to fund to young Muslim entrepreneurs who wish to realize their dreams by establishing a business which follow Sharia rules and using halal funds reflecting the principles of Islamic finance.
An Islamic loan for startup will help to assist the startup company to fund its first step in providing with starting capital as well as debt by mixing the sources of funds using classical Islamic banking but also private Muslim investors through Islamic crowdfunding.
Obtaining Islamic loans to create a startup is not easier as conventional banking, it’s an illusion to think because it’s about Islamic funding that a borrower will not face some classical hurdles such as credit checks, assessment or repayment capacity and furthermore in case of Islamic loan the business type with go through a severe analysis as to its compliance with Sharia law.