Business loans for SMEs in Saudi Arabia in partnership with GIB and SDB
Fast Finance for Micro and Small Enterprises in Saudi Arabia
Beehive has partnered with Gulf International Bank (GIB) and Saudi Social Development Bank (SDB) to offer KSA based SMEs a Sharia compliant, unsecured lending solution that can support working capital, expansion capital and re-financing.
If your micro or small enterprise is based in KSA and you’re looking for finance to expand, you could access cash from SAR100,000 up to SAR3 million using our fintech solution.
Term Finance enables fast, flexible and low-cost borrowing from SAR100,000 up to SAR3 million for creditworthy SMEs who want to expand, with terms between 6 and 36 months.
Working Capital Finance
Working Capital Finance provides flexible, short-term financing to quickly improve cashflow. Businesses can list invoices that are due within 30 to 120 days and receive up to 80% of the outstanding cash.
- SAR2 Million revenue p.a.
- At least 2 years in operation
- Saudi registered company
- Majority owned by a Saudi national
- At least 80% of revenue via bank statement
Your Term Finance account could be opened and funded in just 5 days!
About the partnership
This partnership enables micro and small enterprises to access finance through an innovative fintech solution, which uses a sophisticated decision making and lending process to provide faster and more accessible funding. A fully digitalized way of accessing finance empowers business owners to expand and contribute to the economic growth in the Kingdom, enhancing financial inclusion and facilitating finance for entrepreneurs in line with the goals of Vision 2030. The platform provides micro and small enterprises a new and convenient way to access finance starting from SAR100,000 up to SAR3 million, utilizing GIB’s banking infrastructure.
Ibrahim bin Hamad Al- Rashid, CEO, SDB
“This initiative combines support for the micro and small enterprises sector with financial inclusion for those currently underserved by the conventional financing sector. This strategic cooperation aims to contribute to achieving the goals of Vision 2030 for the Kingdom, the most prominent of which are increasing the contribution of micro and small enterprises to the local economy and enabling financial institutions to support private sector growth.”
Abdulaziz Bin Abdulrahman Al-Helaissi, CEO, GIB
“We are proud to launch this initiative, which culminates in the fruitful cooperation between GIB and SDB in supporting an important and vital sector. We note the importance of the partnership with Beehive as the first partnership of its kind in the Kingdom between a bank and a fintech to provide a new digital lending platform offering innovative financial solutions.”
Craig Moore, CEO, Beehive
“Saudi Arabia is currently a hotbed for fintech innovation and has a booming untapped MSME economy, making it an obvious destination for a digital lending product for micro and small enterprises.”