The third quarter of 2019 marked another record for liwwa, as our community of investors helped fund $3.55M in small business loans. This represents a 71% increase compared to last year. Total underwriting has exceeded $27.5M. liwwa’s lending has provided more than 400 businesses with access to financing on fair terms giving them the ability to expand and grow.
We continue to focus on enhancing our investors' experience with the launch of our new credit grading system. We’ve also increased the initial investment ceiling and revised our overall investment funding limit policies. Not only do these new changes contribute to an improved overall investment experience at liwwa.com, but they also drive additional investment and enable us to accelerate the growth of our lending portfolio.
Lending in the Third Quarter of 2019
298 jobs supported in Jordan
$1M in income for Jordanians
$7.4M in output to the Jordanian economy
liwwa's New Credit Grading is Live
The new credit grading went live on Sept 15, 2019 after thorough testing. The new system also performs better than its predecessor across multiple indicators.
liwwa’s grading system now utilizes alphabetical grading, assigning each loan a letter grade ranging from A (lowest risk) to D (highest risk), providing investors with more granular ratings, and enabling refined pricing in line with credit risk.
Changes to Our Investment Policy
We have increased our initial investment limit prior to completing the Know-Your-Customer (KYC) Form, from $1,000 to $2,000. This change is already effective for new investors and will be applied for existing investors in the first quarter of 2020. If you have not already completed your KYC Form, please go ahead and complete it today by clicking here.
Investment funding limit policy change
We are changing the current investment limit, from being capped at a lifetime limit equal to 10% of the latest annual income, to a recurring annual limit allowing investors to invest up to 10% of their annual income each year. This policy will come into effect in the first quarter of 2020, more details will follow.
liwwa Featured in Forbes Middle East
Ahmed Moor, liwwa’s Co-founder and CEO, was featured in the Forbes Middle East’s September issue. In an article titled “Lending A Hand: liwwa Has Lent $25M To SMEs In Jordan. Now Ahmed Moor Has Egypt, Ethiopia And Turkey In Sight” Moor talked about liwwa’s business model, its performance in recent years, the challenges its facing and its plans for expansion. Read the full article here.