MBRF hires consultancy firm for post-fund monitoring of SMEs

Mohammed Bin Rashid Fund, MBRF, the financial arm of Dubai SME, the agency of Dubai Economy mandated to develop the small and medium enterprise, SME, sector, has appointed Metis Management Consultancy to conduct post-fund monitoring services for all the companies supported by the Fund.

The partnership will enable SMEs assisted by the Fund to have greater access to hands-on experience. The consultancy includes routine checks, guidance, and financial advisory support that will help in foreseeing and planning for potential risks.

"Public-private partnerships are critical to the strategy of Dubai SME and the Mohammed Bin Rashid Fund to empower entrepreneurs and their startups in their growth and evolution. We are delighted to have Metis Management Consultancy as our partners and together we look forward to SMEs supported by the Fund to stay different, pursue innovations, and grow sustainably," said Saeed Matar Al Marri, Deputy CEO of Dubai SME and Director of MBRF.

The MBRF provides three loan schemes to SMEs, which are Credit Bank, Seed Capital Loan and Invoice/LPO Finance. Once approved, the company receives the loan and proceeds with operations, however, they are always encouraged to provide performance updates to the Fund in order to confirm that they stay on course and achieve their targets.

"We believe this strategic partnership will allow MBRF to continue supporting the SME sector on a higher level, while Metis will deep-dive to help achieve the SME’s goals, enabling success," said Nayef Shahin, Founder and Managing Partner at Metis Management Consultancy.