The Oman Future Fund, which operates under the Oman Investment Authority, has announced the launch of its lending portfolio for small and medium-sized enterprises (SMEs). This move is a strategic step to support entrepreneurship and complement the national system for financing SMEs and startups.
By the Numbers
The new lending portfolio is a key addition to the fund’s already significant investment activities:
- 1.249 Billion OMR: The total value of the 45 investment projects the Oman Future Fund had signed by the end of December 2024.
- 2 Weeks: The maximum time it will take for entrepreneurs to receive a financing decision after applying.
A New Gateway for SME Financing
The new financing option is designed to provide quick financial solutions with flexible repayment plans, helping SMEs and startups cover their operational needs and achieve stable growth. Rashid bin Sultan Al Hashimi, Senior Manager of the Oman Future Fund, stated that the launch of the new lending portfolio is a response to the high demand for loan-based financing that was identified during the fund’s promotional tours. He added that this step underscores the fund’s commitment to providing flexible solutions that help entrepreneurs overcome operational challenges and accelerate their growth.
An AI-Powered Partnership with Beehive
The portfolio will be operated by Beehive, the region’s first platform specializing in SME financing since 2014. Beehive will be the first company entrusted with implementing this type of financing within the fund’s system and will use an AI-powered tool to analyze the applications of companies seeking financing. Entrepreneurs and owners of SMEs can apply for financing easily through the fund’s website, where their applications will be referred to Beehive for evaluation.
Aligning with Oman Vision 2040
This initiative is aligned with the national goals of Oman Vision 2040, which aims to build a competitive, knowledge-based economy and provide a supportive environment for innovation and entrepreneurship. By enhancing access to finance for entrepreneurs, the new lending portfolio will strengthen the contribution of SMEs to economic growth and create quality job opportunities for Omani youth.
Source: Atheer
