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Empowering the region’s small businesses: LNDDO Digital Lending, the region’s first ADGM-licensed Fintech digital lender for SMEs

LNDDO Digital Lending Limited, the UAE’s most innovative and forward-thinking direct lender, has unveiled a ground-breaking new offering that is dedicated to engineering credit solutions for SMEs. Officially authorised and regulated by the Financial Services Regulatory Authority (FSRA) under Abu Dhabi Global Market (ADGM) jurisdiction, LNDDO is the first licensed digital lender in the UAE and MENA region.

LNDDO is a unique credit service designed to empower SMEs and encourage them to realise their full potential. Providing loans for small businesses with a quick and easy approval process, it gives entrepreneurs the capital they need to expand their businesses, even if they do not have audited financial statements. Historically, applying for a small business loan in the UAE was a lengthy and complicated process, taking six to eight weeks and reams of documentation. But, with LNDDO, the loans decision process takes only a matter of minutes, and funds can be disbursed and made accessible within one week. By providing fast, accurate and reliable credit services, LNDDO enables 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 operating for a minimum of 12 months. The visionary firm also plans to expand to Egypt and Saudi Arabia as early as next year.

According to the UAE’s Ministry of Economy, more than 94% per cent of companies in the country are SMEs and this sector employs more than 86% of the private sector’s workforce. Sadly, SMEs were hit particularly hard by the pandemic. The Financial Times reported in April 2020 that 70% of businesses in Dubai, including mainly small businesses with fewer than 20 employees, were expected to close within the next six months. By supporting these SMEs with timely financing, LNDDO hopes to strengthen the economy and help these dynamic and original companies recover from the difficulties of the past few years.

Founded by seasoned professionals who have more than 90 years’ of combined experience in heading up world-renowned banks and global leading financial institutions, including NI Capital, International Finance Corporation (IFC) and more. LNDDO is on a mission to become one of the leading names in the realm of digital banking within the region.

Ashraf Ghazaly, Founder and CEO of LNDDO, commented: “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 small and medium-sized business 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.”

Meanwhile, Adham Azzam, Co-Founder & COO of LNDDO, said: “By mobilising capital for the merchants of our B2B partners, including payment service providers, e-commerce platforms and logistics companies, we will equip 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 digital transactions across the globe, we feel that now is a very appropriate time to launch our business. We’re aiming to change the landscape of the region’s SME lending scene by introducing an enhanced user experience, and an additional source of financing which is quick and easily accessible.”

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