Muscat: Future Fund Oman, affiliated to Oman Investment Authority (OIA), has announced the launch of its lending portfolio for small and medium enterprises (SMEs). The step reflects the Fund’s strategic approach to support the entrepreneurship system and integrate its roles with the national system for financing SMEs and startups.
According to Oman News Agency, the new funding option provides quick financial solutions, made available within two weeks from the date of submission of an application. It also offers a flexible repayment plan that extends assistance to the owners of SMEs through easy lending procedures, to cover their operational needs and enable their enterprises to grow steadily. It complements national efforts to expand access to financial resources for entrepreneurs.
The system also keeps pace with the national objectives of Oman Vision 2040, which seeks to build a competitive knowledge-based economy and provide an ideal climate for innovation and entrepreneurship.
The portfolio is operated by Beehive, the region’s first platform specialised in financing solutions for SMEs since 2014.
Rashid Sultan Al Hashmi, Senior Director of Future Fund Oman, said that the launch of the new lending portfolio was in response to feedback from promotional tours made by the Fund in governorates of Oman, as well as requests filed to the Fund’s electronic platform since its launch in early 2024, with entrepreneurs and project owners expressing widespread preference for funding through loans.
Peter Tavener, co-founder and chief financial officer of Beehive, said that partnership with Future Fund Oman constitutes a milestone for the company, which, he affirmed, has been operating in the region for a decade. He added that this partnership validates the company’s business model and consolidates its position as a trusted provider of non-banking financial services.
Tavener pointed out that, with the support of Future Fund Oman, the company is now well-prepared to meet the growing demand for financing SMEs and contribute to sustainable economic growth in the Sultanate of Oman.