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)
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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.
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Peer-to-peer lending has been around for roughly a decade, sprouting in the U.K. and quickly catching on in the U.S., but it hadn’t existed in the Middle East until the launch this week of Beehive, a new business that aims at securing financing for small businesses in the United Arab Emirates.
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Sitting down with Rick Pudner almost a year after Arabian Business broke the news he was resigning as group CEO of Emirates NBD, there are two things you instantly notice about his appearance.
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Welcome to the new Beehive blog where we will post up the latest developments and news from Beehive and the peer-to-peer lending industry as well as market trends, best practice and expert advice from our team and guest bloggers.
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