Muscat: The financing option, announced today, promises approvals within two weeks of application and repayment plans tailored to the operational needs of SMEs and startups. The initiative complements Oman’s national efforts to expand access to financial resources, strengthen the entrepreneurship ecosystem, and create quality job opportunities for Omani youth.

The lending portfolio will be managed by Beehive, the region’s first SME financing platform, which uses AI tools to assess applicants. Applications submitted through the Fund’s website will be reviewed by Beehive in cooperation with Bank Sohar, ensuring alignment with the Fund’s criteria and national development priorities.

Rashid bin Sultan Al Hashimi, Senior Director of the Oman Future Fund, said the launch responds directly to high demand expressed during the Fund’s promotional tours across governorates. “This step reflects our commitment to providing flexible financing solutions that meet entrepreneurs’ needs, strengthen working capital, and help organizations overcome challenges to accelerate growth,” he noted.

Peter Tavener, co-founder and CFO of Beehive, hailed the partnership as a milestone, adding it validates Beehive’s model as a trusted provider of non-banking financial services and positions it to better serve the growing SME sector in Oman.

The Oman Future Fund has already signed 45 investment projects worth OMR 1.249 billion across ten priority sectors by the end of 2024, including OMR 885 million in foreign direct investment. These projects have created over 1,600 jobs and contributed to strengthening Oman’s economic diversification.