How it started
Throughout history, the basic principle of lending and credit extension has not changed; yet the ways and sources through which lending takes place have fundamentally changed. Those changes will and must continue to happen alongside the vast, rapid advancement of technology and increased competition for innovation, to meet the constantly changing client expectations and ambitions. Lending services are vital for funding SMEs (Small to Medium Enterprises) that might struggle starting, sustaining, or growing their business, especially at their early stages. Customers ultimately want a faster, less complicated lending service and a pleasant experience that does not hinder their progress, which we aspire to provide.
How does it benefit my business?
Funding a micro, small or medium business can be very difficult, whether you are starting a new business or maintaining and growing an ongoing one. Lending services aim to facilitate funding, solving many of the difficulties that face a starting or an established business. For a starting SME, funding could be the deciding factor of whether the business starts and succeeds or not. For well-established SMEs funding plays a very important role in business expansion and sustainability, especially when sudden changes happen in the market; For instance, nearly all micro, small and medium businesses have been greatly affected by the pandemic starting from 2019; some have been suddenly meeting huge customer demands and are not being able to keep up, some have been dealing with delayed customer payments and consequently inability to pay suppliers to cover business needs, others had to completely shut down due to lack of demand and inability to cover running costs.
Such turbulence in the market hugely impacted entire countries’ economies, where SMEs are a fundamental pillar. According to the official Census carried out by the Central Agency for Public Mobilization and Statistics, there are more than 3.8 million micro, small and medium businesses in Egypt. Accounting for more than 90% of all business in Egypt; SMEs success and sustainability directly and hugely impact the entire national economy. Thus, having reliable, fast access to the funding you need for your business at the time you need with no hassle helps you launch, sustain, and grow your business much better, and benefits the entire economy in return.
What do we offer?
Considering all the discussed above, we attempt to facilitate your business funding, through our partnership with Tasaheel. Providing funds for small and medium businesses from EGP 5000 to EGP 200,000 with a hassle-free process; simply enter your business information in the application form, a few clicks, and you are done.
Download our super app now to learn more!