Abu Dhabi Expands New Lending Platform for SMEs Numou features state of the art digital marketplace.

Numou, a subsidiary of Abu Dhabi's international financial centre Abu Dhabi Global Market (ADGM), has announced an expansion of its lending partner network, strengthening its position as a digital lending marketplace. The platform now features strategic collaborations with leading institutions, including the Khalifa Fund for Enterprise Development and private credit providers such as Credible-X, Klubworks, and NymCard Payment Technologies.

With the goal of transforming the financing landscape for small and medium-sized enterprises (SMEs) in the UAE, the state-of-the-art platform provides a seamless, fully digital application process, empowering businesses to access a diverse range of financial products while connecting them directly with lenders suited to their unique needs.

Despite SMEs constituting 94% of all companies in the UAE and contributing approximately 40% to the national GDP, securing adequate and timely financing remains a persistent challenge for many SMEs. Data from the UAE Central Bank highlights the issue, showing that loans to SMEs account for just 9.5% of the total cumulative financial facilities extended to the commercial and industrial sectors.

To address this gap, Numou has introduced a digital platform designed to address these challenges head-on by simplifying the lending process, increasing transparency, and enabling competition among lenders to drive better outcomes for SMEs.

Numou offers SMEs a plethora of benefits, the first of which is a streamlined application process wherein businesses submit a single, standardised online application that meets the varying requirements of multiple lenders. This eliminates the need for repeated paperwork and physical visits to branches, significantly saving time and effort. The platform also offers visibility into lenders' interest rates, loan terms, and turnaround times, empowering SMEs to make informed decisions that best suit their financing needs. Finally, by fostering competition among lenders, Numou not only reduces loan processing times but also helps businesses secure more favourable rates and terms

For Financial institutions, Numou provides efficient credit assessment, through which lenders receive well-organized, standardized applications that streamline their internal credit assessment processes. This minimizes the need for redundant data validation, accelerating approval timelines Furthermore, Numou collaborates with lenders to explore innovative financial solutions tailored for SMEs, fostering a shared commitment to economic growth and business development.

To further enhance its offerings, Numou is actively expanding its network to include digital and traditional banks, ensuring SMEs have access to a broader range of financing options and innovative products. This growing network reflects Numou's mission to deliver a one-stop solution for SME financing in the UAE

"Numou exemplifies ADGM's commitment to empowering SMEs as a cornerstone of Abu Dhabi's economy," Arvind Ramamurthy, Chief Market Development Officer at ADGM, said. "By leveraging innovation and collaboration, this platform simplifies access to critical financing, fostering sustainable growth and strengthening the UAE's position as a global hub for business and investment."

Khalifa Al Zaabi, General Manager of Numou, said, "Numou is more than just a digital lending platform – it's a transformative tool for SMEs to unlock their full potential. By bringing together a comprehensive suite of lending options on a single platform, we're enabling businesses to access the capital they need to grow faster and more efficiently. Numou is also a testament to Abu Dhabi's commitment to supporting the SME sector. It complements various initiatives aimed at enhancing SME access to funding, market opportunities, capacity-building programmes, and overall ease of doing business."

In the coming months, the platform plans to broaden its offerings with the introduction of supply chain financing (factoring) and in the future to extend to equity financing.

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