The Mohammed Bin Rashid Establishment for Small and Medium Enterprises Development, one of the Dubai Economic Institutions, has reported allocating 20 million dirhams to the capital guarantee program, and through a partnership between the Mohammed Bin Rashid Fund for Small and Medium Enterprises and the Beehive Company registered in the Dubai International Financial Center.
The program provides funding of up to 780,000 dirhams for companies owned by Emiratis, and 420,000 dirhams for companies owned by Emiratis 50% or more.
The program works to help small and medium-sized companies fulfill their obligations related to operating expenses such as salaries, rents, etc., by providing loans with reduced interest rates to companies facing liquidity problems during the current time.
The program also aims to facilitate access to financing for national companies through a group of registered investors on the Beehive platform, and registration will also be available on the program through the website.