Banks are fully aware that small and medium-sized enterprises (SMEs) are the backbone of the economy and a key driver for
growth and job creation. Today, SMEs account can account for more than 90% of all enterprises in Lebanon and estimates
reveal that they employ more than 50% of the working population.
Bank of Beirut has a long history of serving SMEs, start-ups and entrepreneurs and plans to have a long future with this
sector. “Not only do we believe that SMEs are key to ensuring economic growth, innovation and job creation, but we also
believe that supporting this sector is vital to help Lebanon overcome its challenges, and help the Lebanese stay in their land
and hold onto their roots” says Georges Aouad, Head of the Retail and Branch Division at Bank of Beirut who confirms that
supporting this sector forms an integral part of the Bank’s social responsibility.
Lebanon has been facing many economic challenges in the last few years, due to the prevailing situation in the
neighbouring countries. Those challenges highlight the important role that SMEs can play in supporting the economic growth
and achieving sustainable development.
Against this backdrop, Bank of Beirut has further developed its SME segment to respond effectively to the needs of this
market. Today, the Bank is instrumental in SME lending and trade finance, where it is consistently ranked as the undisputed
leader among all Lebanese banks.
Facilitating financing, supporting innovation, and allocating services and tools to small businesses are vital elements for
establishing a productive environment for developing SMEs. “No doubt that the success of a business starts with a brilliant idea,
but it is finance that makes the idea take off and networks and expertise that help it soar, and this is exactly what we provide
our customers with”, asserts Aouad. Finance, training and networks are three parts of the winning formula Bank of Beirut
provides to SMEs.
FACILITATING ACCESS TO FINANCE
“Helping the local businesses develop is a major aim of Bank of Beirut”, says the Director, as “SMEs and startups benefit
from a wide array of tailored business packages we have developed for them, including lending options, overdraft facilities,
current accounts, debit and credit Business Cards, in addition to Kafalat subsidized loans”. After having launched Caritas Micro
Credit Loan, offering local craftsmen an up to LBP 10 million funding, and Al Raed loan offering funding ranging between LBP 10
million to 30 million, the Bank has recently added to its existing SME, offering the B-Business Package with funding up to $100,000
for start–ups, self-employed and small businesses. The package offers a bundle of three diversified financing options so that each
SME gets funding the way it is best suited to their business, whether through a term Loan, a current account with an overdraft
facility or a free Business Credit Card.
SKILLED HUMAN CAPITAL
Beyond access to finance, Bank of Beirut also pioneered other practical ways to support the growth of small enterprises.
One of these being a tailored training program developed in collaboration with AMIDEAST. Aiming at providing SMEs with
the tools they need to grow their business, these learning and development solutions are designed to educate the workforce,
increase their productivity, and allow them to acquire new skills that help them create the competitive edge they need on the
market.
Aiming to maintain contact with small entrepreneurs and encourage them to stay in their homeland, Bank of Beirut is also
conducting, monthly roadshows on SME financing in Lebanon’s rural areas. The objective of these discussions is aimed at
facilitating access to finance and stimulating business growth in remote areas, in addition to the urban ones.
IMPROVING ACCESS TO NEW MARKETS
Access to international markets for small businesses can offer a host of business opportunities, such as larger and new
niche markets, lowered costs, increased sales and improved networks.
With this in mind, Bank of Beirut launched Bank of Beirut E-Way, an e-payment portal for corporates and SMEs allowing
them to go global with their business and trade their products and services through the net.
According to Georges Aouad: “Bank of Beirut E-Way sets the necessary foundations for encouraging local businesses”.
Designed to enable Lebanese corporates to expand their businesses online and take advantage of the international sales
opportunities, E-Way allows small and medium business owners to create and maintain online presence and expand their
business frontiers to new markets, reducing their running costs.
The launch of the portal stems also from the Bank’s corporate social responsibility towards Lebanon and the national
economy. This step not only strengthens the partnership between Bank of Beirut and the local businesses and boosts
Lebanese start-ups and entrepreneurs, but it also encourages Lebanese emigrants to stay connected with the enterprises of
their homeland and therefore contribute to the national economy.
WELL-DESERVED SME AWARD
These efforts brought recognition for Bank of Beirut. Awarded earlier this year as the fastest growing bank in Lebanon by
the “Banker Middle East”, the Bank has also received the Banker Middle East’s Award for the “Best SME card in the Levant”
in recognition of its efficient, simple and easy to use cash management solution, the Bank of Beirut Business Credit and
Debit cards. This solution aims to help the local businesses develop and grow by offering them an efficient and convenient
payment solution to better manage their expenditures and allow their employees to make business-related purchases.
Through all these initiatives, Bank of Beirut seeks to be a one stop-shop for SMEs that are on the lookout for a supportive and
reliable bank to help them grow their business.
