Our ability to host creditworthy campaigns is one of the core pillars of our success. Not only does it protect our investors, but it also keeps liwwa’s marketplace attractive for new investors, and ensures the continuity of our business.
We work actively to host established and creditworthy campaigns on liwwa’s marketplace. In reviewing loan applications, we follow a streamlined approach using a refined review process, a comprehensive approach to due diligence, and extensive credit analysis.
The following diagram illustrates the process from the point an application is submitted until it is listed on liwwa’s marketplace.
Initial Submission & Screening
Business owners are typically referred to us by their friends, via advertisements or through our dedicated sales team who reach out directly to potential borrowers.
Business owners submit their online applications in a fast and easy process that takes less than 3 minutes to complete. After they submit their completed applications, they either get auto-accepted or auto-rejected. For applications to be automatically accepted, the company submitting the application needs to meet the following criteria:
- Registered in Jordan
- Actively operating for at least 1 year
- Have a company bank account in good standing for at least 6 months
- Have a current ‘Trade License and Commercial Registration Certificate’
- Have minimum revenues of JOD120,000 in the last fiscal year
Legal and Eligibility Checks
Automatically accepted applications move to the next stage where liwwa validates eligibility and ensures that each application is indeed qualified based on the outlined criteria.
Within 24 hours of the application submission date, liwwa requests supporting documentation from the applicant in the form of financials, income statement, balance sheet and cash flow statement, a copy of the bank statements, company registration, and finally a copy of the owner/owners ID.
We then run a legal review and conclude eligibility checks, covering both financial and non-financial aspects, utilizing the information provided in the application as well as external database and other external records.
The application then is transferred to the credit team where they study all related details including but not limited to the requested financing amount and tenor, as well as means of repayment.
After all information is collected, the credit team uses liwwa’s proprietary financial models to analyze the various data points provided in the application. Once the review is complete, the final amount and loan terms are determined.
By the end of the credit assessment, each campaign (loan) is given a credit score, which is based on the triangulation of three main inputs:
- The applicant's business experience: this includes their success record, their personal record, and overall integrity.
- The quality of the business: the applicant's business model, market position, competitive landscape, in addition to historical and projected financials.
- The strength of the business’s financial position: based on various financial indicators with a particular emphasis on credit profile.
On the marketplace
Once the contract is signed, the campaign is then hosted on liwwa’s marketplace.