Platform offers SMEs crowd funding and peer to peer finance.

The Mohammed Bin Rashid Fund (MBRF), which is the financial arm of Dubai SME, and finance platform Beehive have signed a memorandum of understanding (MoU) to aid small and medium-sized enterprises (SMEs) with their financing needs.

The MoU will enable SME owners in Dubai to obtain loans for development and expansion at competitive rates through the Beehive Group Finance Platform.

Abdul Basset Al Janahi, CEO of Dubai SME, explained that the changing SME landscape in Dubai has increasingly led to calls for financing solutions that are more focused on helping businesses on their growth path. He explained that the agreement with Beehive addresses the need for modern SME financing options that can compete with conventional channels and excel in terms of efficiency and cost.