Ellinas Finance CEO signs MoU with Levant Trading Solutions

Ellinas Finance CEO, Nearchos Petrides, recently attended a strategic roundtable discussion held at The Association of Lebanese Industrialists (ALI) in Beirut, Lebanon, marking a significant milestone in the company’s expansion into Lebanon.

As noted in a relevant press release, this pivotal event which was opened by the President of ALI, Salim Zeenni, brought together key leaders and industrialists, including Nicolas Photiades, Chairman of Levant Trading Solutions, Ghassan Chammas, Board Member of Levant Trading Solutions, Julie Southfield, Director of USAID Lebanon and the Trade and Investment Facilitation (TIF) Chief of Party, Mark Rostal.

The meeting was a central feature of Levant Trading Solutions’ launch activities, which included a diverse array of participants from the industrial sector, business associations, NGOs, chambers of commerce, USAID partners, and other key stakeholders, reflecting the broad-based support for this initiative.

At the heart of this meeting was the signing of a Memorandum of Understanding (MoU) between Ellinas Finance and Levant Trading Solutions, aimed at establishing an exclusive strategic partnership which will introduce advanced factoring solutions to Lebanese companies. As Lebanon’s economic landscape evolves, factoring services have become a crucial tool for businesses, particularly small and medium-sized enterprises (SMEs), to manage cash flow effectively and drive growth.

Ellinas Finance, a leader in Alternative Financing in Cyprus with over 30 years of expertise, has been selected by Levant Trading Solutions to provide these essential factoring services. With a proven track record of financing over €300 million to households and SMEs in Cyprus over the last years, Ellinas Finance is uniquely positioned to support Lebanese businesses in navigating the challenges of international trade.

“Our partnership with Levant Trading Solutions is a significant step forward in our mission to empower businesses across the region,” said Nearchos Petrides, CEO of Ellinas Finance. “Through our factoring solutions, we aim to enable Lebanese companies to expand their operations globally, by providing critical working capital, accelerating cash inflows, and mitigating the risks associated with international trade. This MOU is a testament to our commitment to fostering economic resilience and growth in Lebanon.”

The collaboration will also see credit insurance organizations that partner with Ellinas Finance offering essential credit insurance, further enhancing the security and confidence of businesses engaging in international trade.

Dr. Ghassan Chammas, Board Member of Levant Trading Solutions, highlighted the significance of the partnership and Petrides' involvement:

“The signing of this MOU with Ellinas Finance is a strategic response to Lebanon’s current economic challenges. During the roundtable discussions, Mr. Nearchos Petrides’ presence was met with high praise from both industrialists and international representatives. His clear vision and unwavering commitment to the Lebanese market resonated strongly with the participants, including USAID’s Mrs. Julie Southfield and her team, who were optimistic about the success of the factoring initiative that they have supported from its inception.”

Dr. Chammas, added: “Mr. Petrides’ interventions left a positive impact, particularly on the President of ALI, Mr. Salim Zeenni, and his evident affection for Lebanon was deeply appreciated by all present. We are confident this partnership will grow into a substantial business venture, empowering Lebanese companies to thrive amidst the current economic climate.”

This start of this partnership underscores a shared vision of fostering sustainable economic development in Lebanon by providing businesses with the tools they need to thrive. For more information on Ellinas Finance and its range of financial solutions, visit www.ellinasfinance.com