New U.A.E. Peer-to-Peer Lender Aims at Small-Business Funding Gap

New U.A.E. Peer-to-Peer Lender Aims at Small-Business Funding Gap

Peer-to-peer lending has been around for roughly a decade, sprouting in the U.K. and quickly catching on in the U.S., but it hadn’t existed in the Middle East until the launch this week of Beehive, a new business that aims at securing financing for small businesses in the United Arab Emirates.

The peer-to-peer lending concept is simple. It cuts out banks and lets people lend directly to one another (or, in this case, to businesses) in exchange for interest payments. Europe’s biggest peer-to-peer lender is called Zopa, which started in 2005; the largest ones in the U.S. are Prosper and Lending […] Read more