Working Capital is currently not available. We're making some changes and hope to be able to relaunch it in the future.
Working Capital is a buy now, repay later, credit line for your business. You get instant access to a line of credit to grow your business!
Businesses use Working Capital to manage their cashflow and help drive business growth. Typical use cases include expanding inventory, paying for services and supplies, and covering business expenses.
Working Capital may not be a good fit for capital expenditure, and is not available for consumer or personal use cases
Working Capital is currently offered to qualifying businesses in the UAE. It is only available to businesses that operate through a registered legal entity, and not to individuals.
Eligibility is assessed by our algorithm, and is based on a number of factors, including how you use Nomod, your line of business, and your creditworthiness. You will be notified in the your Nomod app if you qualify.
If you do not currently qualify, express your interest by tapping on the Working Capital icon on the home screen. The best way to get access is to continue to use Nomod for most, if not all, your payments, and process regularly through the platform.
A transaction fee is charged each time you use Working Capital. This is capped at a maximum amount based on your current limit. There are no monthly fees, hidden costs, or interest that compounds over time
You can find your Working Capital fee on the Working Capital dashboard in your Nomod app.
Each purchase is split into sixty (60) easy to manage instalments that will be withdrawn from your Nomod balance at the end of each day
Your Working Capital card allows you to purchase with Working Capital. Card details are accessible from the Card feature in your Nomod app, and from there can be added to your Apple Pay or Google Pay wallet
The minimum spend to split with Working Capital is AED 60. Any purchases below this amount will not be split and will be added to your next day’s repayment
At the end of each day, that day’s repayment balance will be withdrawn from your Nomod balance. If you have any missed repayments at the end of the week, these will be withdrawn from your Nomod balance. If your Nomod balance is not enough to cover your Working Capital balance, you will need to repay using a credit or debit card, Apple Pay, Google Pay, or via bank transfer
If you have any missed repayments at the end of the week, these will be withdrawn from your Nomod balance. If your Nomod balance is not enough to cover your Working Capital balance, you will need to repay using a credit or debit card, Apple Pay, Google Pay, or via bank transfer
If a weekly repayment has not taken place three days after it is due, it will be considered to be in default. At this time, your payouts will also be paused.
If your account has two weekly repayments that are in default, a late fee of AED 100 will apply, your account will be considered to be in default, and your full Working Capital balance will immediately be due. Simultaneously, both collection and legal action will be initiated.
If your Nomod balance is not enough to cover your Working Capital balance, you will need to repay using a credit or debit card, Apple Pay, Google Pay, or via bank transfer.
You can also make early repayments partially or in full at any time.
To make a repayment tap Working Capital and follow the steps on your screen.
When you complete a bank transfer from your bank account, return to the bank transfer screen in the Nomod app and tap "Complete". This allows us to track your repayments and update the status of your repayment.
Using Nomod for all of your payments volume will give you the best opportunity to grow your Working Capital limit. Our algorithm automatically adjusts your limit up or down based on your payments volume, together with a number of other factors including how you use Nomod, your line of business, and your creditworthiness