Jordanian company Liwwa, specializing in lending to small and medium-sized enterprises (SMEs), has signed a $5 million loan agreement with the U.S. International Development Finance Corporation. This loan aims to re-lend to SMEs in Jordan and support the company’s expansion plans in Egypt, according to CEO Dennis Ardis (LinkedIn) via Enterprise.
Liwwa’s Operations in Egypt
Liwwa is currently working on raising funds to meet the capital requirements needed to obtain a license for SME financing in Egypt, according to Ardis. The expansion into Egypt is expected to add approximately $11.5 million to the company’s portfolio in the first year of its launch.
About Liwwa
Founded in 2013, Liwwa is an online debt marketplace that connects SMEs with potential lenders. The company focuses on retail and wholesale trade, with a particular emphasis on the food and beverage, and pharmaceutical sectors.
Liwwa’s Achievements and Investments
Since its founding, Liwwa has raised $13.9 million in direct equity investments. On the debt side, the company has secured $20.5 million in loans to date.
Offering Competitive Loans to SMEs in Egypt
Liwwa aims to offer competitive loans to SMEs in Egypt by leveraging its ability to attract international funding, especially from development finance institutions. Ardis explained that the company provides credit facilities specifically designed to meet the needs of SME clients, who often require larger facilities than those offered by microfinance providers.
Liwwa’s Competitive Advantages
Liwwa prides itself on its ability to meet the financial needs of SMEs, setting it apart from other fintech companies that focus on consumer and microfinance services. According to Ardis, the company’s ability to offer flexible, quick financing without the need for formal financial documentation required by other entities enhances the value proposition it offers.
