A booster shot for UAE's SMEs

LNDDO Digital Lending is delighted to significantly reduce application and qualifying time for its lending solutions

  

Abu Dhabi, United Arab Emirates: LNDDO Digital Lending Limited, UAE’s innovative digital lender, is delighted to announce that it is now able to offer significantly more funding for SMEs and allow businesses to access loans ten times faster  than the traditional way. 

Just a one month after launching, the first licensed digital lender in the UAE and MENA region has welcomed several major developments. LNDDO has raised a Seed Round of USD 3 million led by H.H. Sheikh Tahnoon Bin Shakhboot Al Nahayan, to support LNDDO with its plans to boost the SME sector and strengthen the economy as a whole. Alongside this additional investment, LNDDO has also worked on optimizing and improving the efficiency of its application and loan approval processes. Through its strategic partnerships with various payment service providers, LNDDO has been able to drastically reduce end-to-end loan processing time. This translates into quicker working capital for SMEs which they can use for productive purposes such as adding new inventory, hiring new staff, marketing campaigns, etc. .

LNDDO is revolutionizing the SME lending space and offering ten-time faster turnaround time versus the norm. In standard cases, 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, thanks to LNDDO’s new and approved application process and investment in technology, SMEs can now receive a credit decision in just a matter of minutes, and much needed working capital funds can be disbursed and made accessible to small businesses within just a few days, which is ten-time faster turnaround than the current market average. 

Officially authorised and regulated by the Financial Services Regulatory Authority (FSRA) under Abu Dhabi Global Market (ADGM) jurisdiction, LNDDO is a unique credit service designed to empower SMEs and encourage them to realise their full potential, nurture their creativity and achieve their goals.

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. Business can apply even if they do not have audited financial statements, and the visionary firm also plans to expand to Egypt and Saudi Arabia as early as next year.

Ashraf Ghazaly, Founder and CEO of LNDDO, commented: “Since launching in the region, I’m absolutely thrilled to announce that our services have been received tremendously well. Now, thanks to H.H. Sheikh Tahnoon Bin Shakhboot Al Nahayan we are able to assist and uplift even more small and medium sized businesses and entrepreneurs. We thank HH for his commitment and vote of confidence in LNDDO, the team and its vision to empower SMEs with quick and easy access to financing. 

This is fabulous news for the UAE’s hardworking business owners who can now spend time more time on running their business versus running around for funding. The SME sector in the UAE is on the cusp of a recovery from the aftereffects of the pandemic and is set to ride the growth wave boosted by the EXPO 2020 and various other government efforts. Quick access to funding will help accelerate a speedy revival for the sector. 

I want to thank all our investors and partners for their much-appreciated support so far and I can’t wait to see how LNDDO develops in the future. This is really just the beginning of our journey as we work to disrupt and improve the region’s loans services for SMEs.”

For more information visit www.lnddo.com or email press@lnddo.com 

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Media enquiries:
Shireen Shakeel 
Cosmopole Consultancy 
Email: shireen@cosmopole.com  
Telephone: +971 50 298 6104

About LNDDO 

LNDDO is the first licensed direct digital lender in the UAE and MENA region. Launched in 2021, it is officially authorised by the Financial Services Regulatory Authority (FSRA) under Abu Dhabi Global Market (ADGM).   

LNDDO intends to build trust in its digital lending solutions by addressing specific pain points that affect many merchants’ lives. Allowing businesses to grow by accessing finance in minutes, LNDDO’s value proposition is centered around digitalising the merchant’s borrowing journey through a fully online onboarding process. The company uses advanced analytics to analyze its customers' information to underwrite credit risks.  

A digital lending service that focuses on helping small to medium-sized businesses grow, prosper and recover from the difficulties of the COVID-19 pandemic, it aims to encourage creativity and original ideas, and strengthen the UAE’s economy as a whole. 

Specialising in flexible, short-term loans that businesses may use for essential equipment, adding fresh inventory, augmenting services or optimising cash cycles, LNDDO’s unique selling point is its quick and easy application process where a decision is provided within minutes. By visiting the LNDDO app or downloading LNDDO’s iOS or Android mobile application, businesses can get their loan approved online in minutes, and receive their desired funds within one week.   

LNDDO contact information
Website: www.lnddo.com 
Email: press@lnddo.com  

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© Press Release 2021

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