Oman Future Fund Launches SME Lending Portfolio: What It Means for Small Business Growth and Investment Opportunities in Oman
Muscat – The Oman Future Fund, under the Oman Investment Authority (OIA), has officially launched a lending portfolio specifically designed for small and medium enterprises (SMEs). This initiative aligns with the Fund’s strategic goals to support entrepreneurship and integrate its role within the national financing framework for SMEs and startups.
The new lending portfolio offers fast financial solutions, with approval processes completed within two weeks of application. It features a flexible repayment plan aimed at helping SME owners and entrepreneurs access funding easily to meet operational needs and achieve sustainable growth. This initiative supports national efforts to enhance financing tools and broaden access to capital for entrepreneurs.
This development is expected to boost the contribution of SMEs to the national economy and create quality job opportunities for Omani youth.
The lending program will be managed by Beehive, the region’s pioneering platform for SME financing since 2014. Beehive is the first company entrusted to implement this financing model on behalf of the Fund, utilizing artificial intelligence to assess the financial status of applicants.
Entrepreneurs, SME owners, and startups can apply for financing through the Oman Future Fund’s website. Applications will be directed to specialized managers based on the financing type. Beehive will evaluate these applications and coordinate financing in partnership with Bank Sohar, adhering to the Fund’s objectives to stimulate local economic growth.
Rashid bin Sultan al Hashimi, Senior Director of the Oman Future Fund, stated that the launch of this lending portfolio fulfills the Fund’s initial strategic plans and responds to feedback gathered from promotional tours across various governorates. He noted a strong demand from entrepreneurs for loan-based financing to strengthen working capital for expenses such as salaries and rents. This initiative represents a significant advancement in providing flexible financing solutions tailored to support operational challenges and accelerate business growth, thereby reinforcing economic diversification, local content development, and value addition.
Peter Tavener, Co-founder and CFO of Beehive, described the partnership with the Oman Future Fund as a major strategic milestone. He emphasized that this collaboration validates Beehive’s business model and enhances its role as a trusted provider of non-banking financial services. With the Fund’s support, Beehive is well-positioned to meet rising SME financing demands and contribute to sustainable economic growth in Oman.
By the end of December 2024, the Oman Future Fund had signed 45 investment agreements across targeted economic sectors, totaling RO 1.249 billion. This includes RO 885 million in foreign direct investment and RO 333 million in fund investments. These projects span ten key local sectors, creating over 1,600 jobs, attracting further foreign investment, diversifying the national economy, and generating growth opportunities for SMEs and startups.
Special Analysis by Omanet | Navigate Oman’s Market
The Oman Future Fund’s launch of a fast, flexible lending portfolio for SMEs marks a strategic acceleration in supporting entrepreneurship and economic diversification. By leveraging AI-driven evaluation and strategic partnerships, this initiative reduces financing barriers for SMEs, presenting a critical opportunity for businesses to scale operations and for investors to tap into a growing, government-backed sector. Smart entrepreneurs should now prioritize aligning with national growth sectors and utilize these accessible funds to innovate and expand, positioning themselves at the forefront of Oman’s evolving economic landscape.
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