A helping hand for SMEs in the United Arab Emirates
Abu Dhabi, United Arab Emirates: LNDDO Digital Lending Limited, the innovative digital lender from the United Arab Emirates, is delighted to announce that it is now able to offer much more financing to SMEs and enable businesses to access to loans ten times faster than the traditional method.
Just a month after its launch, the UAE’s and MENA’s premier licensed digital lender hosted several major developments. LNDDO has raised a US $ 3 million fundraising round led by His Highness Sheikh Tahnoon Bin Shakhboot Al Nahayan, to support LNDDO in its plans to boost the SME sector and strengthen the economy as a whole. Along with this additional investment, LNDDO has also worked to optimize and improve the efficiency of its loan application and approval processes. Through its strategic partnerships with various payment service providers, LNDDO has been able to significantly reduce end-to-end loan processing time. This translates to faster working capital for SMEs which they can use for productive purposes such as adding new inventory, hiring new staff, marketing campaigns, etc.
LNDDO revolutionizes the SME lending space and delivers a turnaround time ten times faster than standard. In standard cases, applying for a small business loan in the UAE was a long and complicated process, taking six to eight weeks and tons of paperwork. But, thanks to LNDDO’s new approved application process and investment in technology, SMEs can now receive a credit decision in minutes, and much-needed working capital can be disbursed and made available to small businesses in a matter of minutes. days only, which is ten times faster than the current market average.
Officially authorized and regulated by the Financial Services Regulatory Authority (FSRA) under the jurisdiction of the Abu Dhabi Global Market (ADGM), LNDDO is a unique credit service designed to empower SMEs and encourage them to achieve their full potential. , to nurture their creativity and achieve their goals.
Offering easy repayment options, the loans are suitable for digital transfer SMEs in a variety of industries, as long as they have been in operation for at least 12 months. Companies can apply even if they don’t have audited financial statements, and the visionary company also plans to expand to Egypt and Saudi Arabia as early as next year.
Ashraf Ghazaly, Founder and CEO of LNDDO, commented: “Since the launch in the region, I am absolutely delighted to report that our services have been extremely well received. Today, thanks to His Highness Sheikh Tahnoon Bin Shakhboot Al Nahayan, we are able to help and uplift even more small and medium enterprises and entrepreneurs. We thank HH for their commitment and vote of confidence in LNDDO, the team and their vision to give SMEs quick and easy access to finance.
This is fabulous news for hardworking business owners in the UAE who can now spend more time running their business rather than finding funding. The SME sector in the UAE is on the verge of recovering from the aftermath of the pandemic and is expected to ride the wave of growth spurred by EXPO 2020 and various other government efforts. Quick access to finance will help accelerate a rapid recovery of the sector.
I would like to thank all of our investors and partners for their much appreciated support so far and look forward to seeing how LNDDO develops in the future. This is really just the start of our journey as we work to disrupt and improve the region’s lending services for SMEs.
For more information, visit www.lnddo.com or email [email protected]
Email: [email protected]
Telephone: +971 50 298 6104
LNDDO is the premier authorized direct digital lender in the UAE and MENA region. Launched in 2021, it is officially authorized by the Financial Services Regulatory Authority (FSRA) under the Abu Dhabi Global Market (ADGM).
LNDDO intends to build confidence in its digital lending solutions by tackling the specific issues that affect the lives of many merchants. Enabling businesses to grow by accessing financing within minutes, LNDDO’s value proposition centers on digitizing the merchant’s borrowing journey through a fully online onboarding process. The company uses advanced analytics to analyze customer information to hedge credit risk.
A digital lending service that aims to help small and medium-sized businesses grow, prosper and recover from the hardships of the COVID-19 pandemic, it aims to encourage creativity and original ideas, and to strengthen the economy of the United Arab Emirates as a whole.
Specializing in flexible, short-term loans that businesses can use for critical equipment, adding new inventory, increasing services, or optimizing cash cycles, LNDDO’s unique selling point is its fast and easy application process where a decision is made within minutes. By visiting the LNDDO app or downloading the LNDDO iOS or Android mobile app, businesses can get their loan approved online in minutes and receive the funds they want within a week.
© Press release 2021