Emirates-BeeHive allows startups to grow their projects

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(MENAFN – Al-Bayan) Source: Date: September 28, 2020 The innovative BeeHive platform provides an opportunity for institutions or individuals wishing to invest in emerging companies, to reap rewarding investment returns, and to encourage relatives and friends to financially support the projects of their relatives, and to earn profits in return for their participation in financing these projects, with a guarantee from the Mohammed bin Rashid Foundation for the Development of Small and Medium Enterprises One of the economic institutions of Dubai, in a way that stimulates economic growth and helps this important segment of companies to develop and consolidate their foundations.

Dubai-based Beehive is the first fintech platform authorized to engage in peer-to-peer lending in the Middle East and North Africa, and it is registered with the Dubai Financial Services Authority, in the DIFC.

The platform uses innovative technology to connect companies seeking fast and affordable financing with investors who can help finance their growth.

Saeed Al Marri, Deputy Executive Director of the Mohammed Bin Rashid Establishment for Small and Medium Enterprises Development, said: We are committed in the Mohammed bin Rashid Foundation for the Development of Small and Medium Enterprises, to provide and make available innovative financing solutions for small and medium enterprises, in line with the directives of the wise leadership on the necessity of providing the appropriate environment to support business and corporate continuity Specifically, small and medium enterprises, which constitute the majority of the companies operating in the emirate.

Sign Up

Small and medium companies can benefit from the platform by logging in to the website www.beehive.ae and registering in it, and then the company is subject to a qualification test to obtain the loan.

And registration and opening a free account on the platform, and after registration, the investor’s account and data, his credit account, and whether or not he is a real investor are checked, with the aim of preventing any fraud or avoiding the entry of fictitious investors. The investor is not required to hold a residence permit in the Emirates.

Minimum

The minimum investment through the platform is 100 dirhams, so the investor can choose the loan or company he wishes to invest in, and the expected annual return and profit ratio for the investor is about 10% of the investment value, and it depends on the term of the loan, whether it is for a period of 12 months or 24 months Or 36 months. Profits are deposited into the investor’s account on a monthly basis, and the investor can withdraw his investment at any time, provided that it is not linked to a valid loan.

finance

Small and medium enterprises in Dubai, wholly owned and managed by citizens, can obtain financing of up to one million dirhams, backed by a 100% capital guarantee, financed by the Mohammed bin Rashid Fund for Small and Medium Enterprises (the Fund), from the Guarantee Program of 20 million dirhams. .

Whereas, small and medium-sized companies in Dubai, owned and managed by citizens with a minimum rate of 50%, can obtain financing of up to 420,000 dirhams, provided that they receive a 50% capital guarantee.

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