If the discussions conducted at the Entrepreneur Middle East Enterprise Agility Forum in November last year were any indication, then one of the biggest problems that SME owners in the region face is raising capital to grow and develop their respective businesses.
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It’s been only 3 months since we launched the Beehive platform and we’re very proud of the growth rate we’ve achieved to date. We’re happy to announce that the hundreds of investors on our platform have provided AED2.7 million in cost effective finance to the 10 businesses that requested financing through our marketplace.
Part of an initiative to provide borrowing oppurtunities to business customers that don’t meet their criteria, RBS will begin to refer clients to P2P lenders Funding Circle and Assetz Capital.
When history is written, the Lending Club IPO will serve as the tipping point for the disruption of the traditional lending model, and ultimately the unraveling of the banking sector as we know it.
Dubai-based Beehive officially launched the region’s first peer-to-peer (P2P) online lending platform today, offering a new funding alternative for small to medium sized enterprises (SMEs)
With bank lending to small businesses stuck at less than 4 per cent and a lack of traction to fill the void between financial institutions and government, peer-to-peer lending has emerged as a viable funding alternative in the UAE.