Funding Souq is a digital lending platform that connects established businesses with investors (lenders) and it could be the answer to post- pandemic recovery of the small business ecosystem.
The organisation aspires to bridge the SME financing gap by leveraging the latest technologies to boost local economies.
The platform uses technology to connect both parties through the principle of crowdfunding – raising small amounts of funds from many individuals.
How does Funding Souq work?
Funding Souq connects investors with established SMEs who are looking to borrow funds and grow their operations.
Investors can finance a wide range of businesses across different sectors and risk profiles. Their team uses an innovative credit model to analyse every business that applies to them. They analyse tens of variables before deciding to fund the business.
The companies that meet their requirements are onboarded and a fundraising campaign is launched on their behalf. The campaign includes relevant information about the company and details about the requested loan.
Once a loan is fully subscribed, the investor funds will be transferred to the business’s account. The business will then make monthly repayments to investors until the maturity of the loan.
How could it shape our communities?
Funding Souq offers funders at a grassroots level the opportunity to support the kinds of businesses they want to see in their local area.
By giving this kind of decision-making power to people who actually live and work in a community, the community’s facilities and local resources can be shaped in line with what that community wants and needs, and not necessarily with how and where a global business wants to expand next.
Ultimately Funding Souq could be the key to reshaping our cities and towns in the wake of the pandemic, replacing what was lost with what is genuinely wanted. Find out more at fundingsouq.com/en.