BenneFin: Bridging the Gap for Bahrain’s SMEs

TDT | Manama

Email: mail@newsofbahrain.com

In a world where small and medium enterprises (SMEs) often find themselves caught between limited traditional funding for working capital and lack of alternative options, BenneFin is emerging as a practical and regulated solution.

Founded by Bahrain resident Ms. Babita George who is an ex-banker, the company was born out of profound insight into the the struggles faced by SMEs in the region, in accessing working capital.

“The funding gap seen in SMEs presented not just a challenge but an opportunity to work with the community to facilitate financial inclusion,” Ms. George says.

“We had worked extensively with SMEs in the region and saw how difficult it was for them to raise working capital,” Ms. George explains. “These businesses are often too large to rely on personal networks; yet too small for steady funding from banks. That’s how BenneFin evolved– to bridge this gap with a regulated platform designed to serve their needs.”

Meeting the Needs of SMEs

BenneFin’s approach is simple yet impactful - providing receivables-backed and gold-backed loans tailored to the specific requirements of SMEs. By offering flexible financing structures, the company ensures businesses can access funds quickly and efficiently.

This agility, Ms. George says, is what sets BenneFin apart in the funding landscape.

The company’s proprietary loan management system is a key enabler of this efficiency.

The platform streamlines everything from application to approval, making the process seamless for users.

As a part of advancing the future of digital funding, BenneFin is incorporating AI-driven decision making in its lending platform.

“Our platform is designed to be user-friendly,” Ms. George says. “We’re continuously enhancing it to provide a better experience for SMEs, and with AI, we’re looking at faster and more scalable solutions.”

The types of loans are designed to align with the cash flow of the Businesses and loans like Gold loan provide stressfree and secured financial solution, to both borrowers and investors.

Overcoming Barriers

Despite innovative approaches, lending to SMEs are subject to challenges. Many SMEs remain unfamiliar with alternative financing options, as financial inclusion in the region is developing.

“Awareness is one of the biggest hurdles,” Ms. George, who is also the CEO, admits. “Reaching lendable SMEs and educating them about our solutions takes time, but we’re addressing this through clear communication and transparent processes.”

The company has designed its loan application process in simple three-step system – registration, KYC, and loan requests – businesses can access funds without unnecessary delays.

Whether for invoice-backed loans, POS machine loans, or Gold-backed loans, the focus remains on simplicity and efficiency.

As a Central Bank of Bahrain-regulated entity, BenneFin adheres strictly to financial regulations, including anti-money laundering (AML) and consumer protection laws.

In BenneFin, compliance isn’t just a legal requirement; it is considered as a cornerstone of trust.

“We strive to ensure transparent and ethical lending practices at every stage,” she emphasises.

A Vision Beyond Bahrain

While headquartered and firmly rooted in the Kingdom of Bahrain, BenneFin has its sights set on the wider GCC market. There is significant demand for SME financing across the region and the company’s model is designed to address it.

“Our goal is to expand into other GCC markets and introduce financial products that meet the evolving needs of businesses,” she reveals.

Bahrain’s fintech sector has grown rapidly in recent years, supported by an ecosystem that encourages innovation.

BenneFin envisions itself to play a significant role in this transformation, particularly in line with Bahrain’s Vision 2030, which aims to build a sustainable, inclusive economy.

“Fintech is becoming central to Bahrain’s digital economy, and we’re proud to be part of this evolution,” she says. “Our mission is to empower SMEs by giving them the working capital they need to grow and succeed.”

Supporting SMEs, Shaping the Future

For SMEs in Bahrain, BenneFin represents more than just a source of funding. It’s a partner in growth, offering solutions tailored to their unique challenges.

Ms. George emphasised: “There are opportunities out there to grow your business, and we’re here to help you seize them. With the right support, SMEs can grow and prosper.”

As BenneFin continues to innovate and expand, being part of the fintech ecosystem in Bahrain, it’s helping to build a thriving SME sector that will be integral to the Kingdom’s economic success.