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LNDDO Digital Lending Limited, the most innovative and forward-looking direct lending institution in the UAE, has launched a pioneering new product dedicated to designing credit solutions for small and medium enterprises. LNDDO is officially authorized and regulated by the Financial Services Regulatory Authority (FSRA) under the jurisdiction of Abu Dhabi Global Markets (ADGM). It is the first licensed digital lender in the UAE and the Middle East and North Africa.
LNDDO is a unique credit service designed to empower SMEs and encourage them to reach their full potential. Providing loans to small businesses through a quick and easy approval process, it provides entrepreneurs with the funds needed to expand their business, even if they do not have audited financial statements. Historically, applying for a small business loan in the UAE has been a long and complicated process, requiring six to eight weeks and a lot of documents. However, with LNDDO, the loan decision-making process only takes a few minutes, and the funds can be paid and used within a week. By providing fast, accurate and reliable credit services, LNDDO enables entrepreneurs and SMEs to focus on cultivating their creativity and achieving their goals.
LNNDO launches seamless and fully digital lending services, leveraging advanced analysis and various B2B partnerships to cooperate with leading payment service providers, e-commerce platforms and delivery aggregators to bring excellent service levels to its customers. These loans provide simple repayment options and are suitable for digital forwarding SMEs in all walks of life, provided they have been in operation for at least 12 months. The visionary company also plans to expand to Egypt and Saudi Arabia as early as next year.
According to data from the UAE Ministry of Economy, more than 94% of the country’s companies are SMEs, and this sector employs more than 86% of the workforce in the private sector. Sadly, SMEs have been hit particularly hard by the pandemic. Financial Times In April 2020, 70% of Dubai’s businesses (mainly including small businesses with fewer than 20 employees) are expected to close in the next six months. LNDDO hopes to support these small and medium-sized enterprises through timely financing, revitalize the economy, and help these dynamic original enterprises to recover from the difficulties of the past few years.
Founded by experienced professionals, they have more than 90 years of combined experience in leading world-renowned banks and leading global financial institutions (including NI Capital, International Finance Corporation (IFC), etc.). The mission of LNDDO is to become one of the leading companies in the area of ​​digital banking in the region.
Ashraf Ghazaly, Founder and CEO of LNDDO, Commented: “We are pleased to launch our functional, inclusive and unique digital loan solution, which is specifically designed to help and support SMEs in the region. We hope that the process of obtaining commercial loans for SMEs will be changed. It has to be simple, fast and seamless, and make sure it is fully inclusive and accessible to everyone. By supporting SMEs and removing any barriers that hinder them, we hope to encourage the creativity, growth and ingenuity of SMEs in the UAE, Ultimately help the entire economy grow.”
at the same time, Adham Azzam, Co-founder and COO of LNDDO, Said: “By raising funds for the merchants of our B2B partners, including payment service providers, e-commerce platforms and logistics companies, we will provide aspiring entrepreneurs and creative minds with the fuel they need to grow and achieve their goals Given that the pandemic has led to a significant increase in global digital transactions, we believe that now is a very appropriate time to start business. Our goal is to transform the region’s SME loans by introducing an enhanced user experience and additional sources of financing that are fast and easily accessible The pattern of the scene.”
For more information, please visit www.lnddo.com, Or email press@lnddo.com.
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