Week ending 30 August 2026: Capital is arriving through different doors

Channel Capital Advisors, the London headquartered private credit manager, took a minority interest in Magellan Capital’s position in Beehive‘s SME funding programme. The mezzanine investment sits within an overall programme of AED 600 million, around USD 163 million, for lending to UAE small businesses, placing Channel alongside existing funders Goldman Sachs and Magellan.

Jehan Karanjia, Head of Capital Markets at Beehive, said the transaction demonstrates the platform’s shift from peer to peer lending toward institutional capital formation. Beehive is now regulated across three GCC markets and has financed more than 3,000 SMEs since 2014. Channel says it has deployed over USD 1.5 billion into UAE lending.

Do this. If your bank has declined you, the platforms now sitting on institutional money are a materially better prospect than they were two years ago, because they are no longer rationing capital between retail investors. Ask any platform you approach who funds their book and whether that funding is committed. If the answer is vague, your approval is only as reliable as their next fundraise.

A cluster of Saudi facilities came through this week and last. Ajeej Steel Manufacturing signed a five month Shariah compliant facility worth SAR 75 million with First Abu Dhabi Bank, secured by a promissory note. Al Moammar Information Systems renewed a SAR 2 billion facility with Alrajhi Bank. Saudi Advanced Industries renewed SAR 100 million with Alinma Bank on a one year tenor against a promissory note and a pledge over part of its investment portfolio, while Axelerated Solutions renewed SAR 70 million with Saudi Awwal Bank, also for one year.

Look at the tenors. Five months. One year. One year. These are not expansion facilities, they are liquidity bridges, secured by promissory notes and asset pledges rather than cash flow.

Do this. Start renewal conversations far earlier than you used to, since a five month facility means you are back in front of a credit committee twice a year. Expect personal or corporate guarantees even where your trading history is strong. And if listed mid caps are financing on these terms, their subcontractors and suppliers are being paid more slowly than usual, so tighten your own collection terms now.

Tamkeen extended registration for its Musanada programme to 30 September and doubled the Operational Expenses Support track from three months to six. It is open to micro, small and medium enterprises at least 50% privately owned holding a commercial registration issued before March 2026, across transport, manufacturing, tourism, food service, motor trade and professional services. Financing is delivered through Bahrain Development Bank, with Tamkeen covering a full profit subsidy for up to the first twelve months.

Do this. If you run a qualifying Bahraini business and have not applied, you have roughly five weeks. Three months of support treats a shock as an interruption, six months treats it as a condition, and six months of covered operating costs is often the difference between refinancing on your own terms and refinancing on someone else’s.

Monsha’at and the Saudi Export Development Authority closed Export Week on 27 August, drawing more than 1,600 participants and delivering around 650 advisory sessions. Saudi EXIM Bank extended SAR 27.67 billion of facilities in the first half, but the growth came from export credit insurance rather than export financing. SMEs still account for only a little over 9% of the total Saudi loan book, against a SAMA target of 11%.

Do this. Get the receivable insured before you approach the bank, since a credit insured receivables book typically supports advances of 80% to 90% of invoice value, against 60% to 70% uninsured. Then use Kafalah to cover the residual credit risk. Then ask about pre shipment working capital separately, because it is a different facility from the money you need to bridge the invoice. Most declined applications fail because all three were requested as one.

Fasset, the Dubai based stablecoin neobanking platform, raised USD 68 million in a Series C on 24 August at a USD 1 billion valuation, led by Japan’s SBI Group. It holds a Virtual Asset Service Provider licence from Dubai’s VARA and reports annual transaction volume above USD 40 billion. Separately, the Qatar Central Bank disclosed 14 fintech companies under direct supervision, including nine licensed merchant acquirers.

Do this. Regulated does not mean risk free, so check which entity holds your balance and under which licence before moving money differently. Settlement speed only helps if your buyer will pay through that rail, so confirm before you restructure your treasury.