ADGM-licensed Fintech digital lender offers easy financial support for SMEs across the UAE
LNDDO Digital Lending Limited, the first licensed digital lender in the UAE and MENA region, has launched a service that offers credit solutions for SMEs. Officially authorised and regulated by the Financial Services Regulatory Authority (FSRA) under Abu Dhabi Global Market (ADGM) jurisdiction, LNDDO is designed to empower SMEs and encourage them to realise their full potential.
According to the UAE’s Ministry of Economy, more than 94 percent of companies in the country are SMEs and this sector employs more than 86 percent of the private sector's workforce. Sadly, the sector was hardest hit by the pandemic. . By providing fast, accurate and reliable credit services, LNDDO will enable entrepreneurs and SMEs to concentrate on nurturing their creativity and achieving their goals.
Introducing a seamless and fully digital lending service, LNNDO uses advanced analytics and various B2B partnerships with leading payment service providers, e-commerce platforms and delivery aggregators to bring an exceptional level of service to its clients. Providing easy repayment options, the loans are suitable for digitally forward SMEs in various sectors, provided they have been operating for a minimum of 12 months.
Providing loans for small businesses with a quick and easy approval process, the company gives entrepreneurs the capital they need to expand their businesses, even if they do not have audited financial statements. In a statement from the company, the loans decision process takes only a matter of minutes, and funds can be disbursed and made accessible within one week
Ashraf Ghazaly, Founder and CEO of LNDDO, said, “We are so excited to introduce our functional, inclusive and one-of-a-kind, digital lending solution that is specifically created to help and support the region’s SMEs. We want to make the process of getting a business loan for these SMEs simple, quick and seamless, and ensure that it is totally inclusive and easily accessible to all. By supporting SMEs and removing any obstacles that are in their way, we hope to encourage creativity, growth and originality in UAE SMEs and eventually help to grow the economy as a whole.”
LNNDO has plans to expand to Egypt and Saudi Arabia as early as next year.