Weeks to get an answer. Months to get funded. And that’s if funding is approved. Over half of Small and Medium Enterprises (SMEs) are snubbed by traditional banks1. The rest face a painfully slow process riddled with bureaucratic red tape, hidden costs, and missed opportunities. In the end, they receive just 7% of all bank lending in MENA1. But there’s an alternative. Beehive’s digital platform beats the bank with fast, accessible, and hassle-free funding options. SMEs can check their eligibility online in minutes and get a response within days. Here are six reasons to snub the banks right back and become a Beehive success story instead.
1. Let’s get digital: faster funding, less stress
Beehive’s digital-first approach makes the funding process faster and easier by reducing paperwork and simplifying approvals. Our credit screening system leverages 10 years of expertise to assess financial information in a fraction of the time it takes traditional banks. On Beehive’s user-friendly platform, SMEs can:
Once SMEs upload their documents, Beehive reviews the information and gives a funding response within 7 working days. Approved business funding requests are listed on the investor marketplace for 14 days. Once the request is fully funded, money is transferred to the SME within 48 hours.
2. Easier access to business funding
Financing solutions are designed to meet the unique needs of SMEs, including those struggling to secure bank financing. Traditional banks require a strong credit history, 5-10 years of operation, and high collateral up to 150% of the financing amount2. That makes it nearly impossible for small businesses to get the funding they need when they need it most. Beehive makes financing accessible with realistic eligibility criteria.
Eligibility at a glance
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Eligibility criteria
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Term financing
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|---|---|
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Minimum operational years
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2+ Years
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Annual revenue requirement
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OMR 150K
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Revenue % on bank statements
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80%
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Minimum cash cover ratio
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2.5x Monthly bank installment
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Debt-to-revenue limit
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20% of revenue
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No returned cheques (months)
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6 months
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Collateral requirement
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No
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Financial audits required
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Required for a rating (lower rates, more funding)
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3. Less paperwork required
Beehive keeps it simple by only requesting standard documents that SMEs typically have on hand. These are required to verify the business’s legitimacy, legal status, financial track record, and ability to meet repayment commitments. Here’s what to expect:
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Financial documents
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Compliance documents
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|---|---|
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Audited financials or in-house management accounts for the most recent fiscal year, signed and stamped.
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Memorandum of Association and Articles (if applicable).
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Year-to-date management accounts (profit & loss and balance sheet), signed and stamped.
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Holding company documents (if applicable).
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Aging receivables and payables for the last two quarters.
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Trade License.
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Last 6 months of bank statements (all business accounts) and VAT Certificate and screenshot of results for the previous 4 quarters.
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Tenancy Contract of the company.
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Beehive Application Form: Complete all sections, sign each page, and ensure each question is answered fully and accurately.
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Proof of identity (clear, coloured copies of passport, visa, and Emirates ID) for all shareholders. Provide all copies, including for dual citizens or multiple passport holders.
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4. Tailored funding solutions to suit your business needs
One size does not fit all. Beehive offers multiple funding solutions with flexible repayment terms and no early repayment fees.
Funding options at a glance
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Feature
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Term financing
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|---|---|
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Repayment terms
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12-36 months
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Early repayment fees
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None
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Funding amount
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OMR 20K - OMR 100K
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Interest rates
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Starting at 9.95% flat+ applicable fees
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Repayment structure
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Fixed monthly payments over the term
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Ideal for
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Established SMEs looking for capital to expand operations
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5. Sharia-compliant financing options
Looking for ethical, Islamic-compliant financing? Beehive is certified by the Shariyah Review Bureau (SRB), making it the first P2P platform in the world to confirm Sharia compliance independently. Now SMEs can access alternative borrowing solutions without compromising their values. How does it work
Beehive uses the Murabaha cost-plus profit model. Instead of lending money and charging interest (Riba), financing is structured through commodity-backed transactions. Investors purchase commodities and resell them to SMEs at a pre-agreed profit margin. SMEs then sell the commodities to access the required funds. Repayments are made in monthly installments, covering the cost plus profit. This funding method aligns with Islamic financial principles by avoiding interest, excessive risk, and speculation (Gharar).
6. Supporting MENA SMEs for over 10 years
Beehive has been driving growth in the MENA region since 2014. Over the last 10 years, the platform has funded over 28,000 financing requests and injected OMR 300 million into the economy. We’ve partnered with banks across MENA, which improves access to funding for SMEs in health care, food security, agri-tech, renewable energy, manufacturing, and technology. Regulated by the Dubai Financial Services Authority (DFSA) in UAE and by the Financial Services Authority (FSA) in Oman, Beehive is committed to serving the backbone of the economy. With over 15,000 registered investors, SMEs can seize opportunities and grow with fast, easy, and affordable funding from a safe and reliable source.
Key Takeaways
If you require more information, contact us at hello@beehive.om
Learn more about Beehive and funding opportunities here
Learn more about Beehive and funding opportunities here
Past performance is not necessarily a reliable indicator of future results.
References
1World Economic Forum. “Scaling up SME Access to Finance in the MENA Region.” World Economic Forum. March 2019. https://www.weforum.org/stories/2019/03/scaling-up-sme-access-finance-mena-region/
2Shell Foundation. “MENA Enterprises: Challenges and Opportunities.” Shell Foundation. August 2024. https://shellfoundation.org/wp-content/uploads/2024/08/shell_foundation_mena_enterprises.pdf
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