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Saudi Banks Team up with Beehive to Create New Lending Platform
July 26th, 2020 - 07:30 GMT

Saudi Banks Team up with Beehive to Create New Lending Platform

A new financing website for small businesses has been launched in Saudi Arabia. The Kingdom’s Social Development Bank and Gulf International Bank (GIB) have teamed up with fintech company Beehive to offer firms funding between SR100,000 ($27,000) and SR3 million. Small businesses often find it difficult to tap traditional bank sources of finance, especially startup companies with little trading history. The sector has been badly hit by the coronavirus pandemic ...
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