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EGE Finance has just launched on Mintos and offers investment opportunities in EUR

By MPI3rd August 2018News, Peer-to-Peer LendingBB Finance Group, buyback guarantee, EGE Finance, Finland, invest, Mintos, peer-to-peer lending, Short-term loans

EGE Finance from Finland has just launched on the Mintos peer-to-peer lending marketplace. You can now invest in its short-term loans and earn net annual returns of 9 to 10%.

EGE Finance is part of BB Finance Group which was founded in Estonia in 2006. It is a technology-driven consumer credit company and the team consists of 70 professionals worldwide. The company provides short-term loans to clients mainly in Estonia, Finland, Czech Republic and Georgia with its headquarters located in Tallinn.

“BB Finance Group has earned the trust of many institutional and private investors. However, we are always interested to further diversify our funding sources and let new investors earn returns on our good results. Mintos has also shown real professionalism in the lead up to listing our loans on their marketplace. We are always glad to find opportunities to work with such people and companies,” said Urmo Kokmann, the COO and co-founder of BBFG.

On Mintos, the average Finland-issued loan from EGE is around EUR 270 with a repayment period of up to 93 days. You can expect a net annual return of 9 to 10%.

All loans from EGE will come with a buyback guarantee and will be repurchased if a loan is delinquent for 60 days or more. Furthermore, it will retain 5% of each loan placed on Mintos on its balance sheet to keep its skin in the game.

BB Finance Group has issued around 650 000 loans worth EUR 135 million. Since its inception, the company has attracted 430 000 registered clients. Its net portfolio amounts to EUR 13.8 million. In 2017, the company issued EUR 30 million worth of loans, 82% of which were to returning customers.

Since 2014 the company has continuously invested in technology. As a result, it has delivered a portfolio growth of 47% per year on average. BB Finance Group develops and monitors its own credit scoring system, decision-trees and also uses external credit databases. Over 80% of its clients last year were returning customers who had already repaid one or more previous loans and shown a reliable repayment discipline. Non-performing loans contribute to 4% of the company’s loan portfolio in Finland.

How does Envestio buyback guarantee works?

By MPI30th July 2018News, Peer-to-Peer Lendingbuyback guarantee, Envestio, investment, peer-to-peer lending, secured debt, subordinated debt

Since the launch of Envestio crowdinvesting platform they have been constantly receiving questions about how safe the investments are, and what is the legal protection of investors in case of borrower’s default. Although, some information is available in different sections of Envestio website, we feel that there is a need to summarize it in a more concentrated format using this article.
In addition, the article provides a detailed description of how exactly investment repurchase (or buyback) guarantee works in an improbable case of borrower’s default.

Let’s start with some terminology. Currently, at Envestio there are two types of projects available to invest in – secured loans and subordinated loans:
– “Secured debt” status means that besides providing full information about the business venture and concluding necessary agreements, the investment project owner has provided Envestio with an additional legal insurance, i.e. mortgage, mixed collateral, personal guarantee.
– “Subordinated debt” status means that all financial and legal information about the project has been submitted to Envestio and the essential agreements concluded, but no additional guarantee is legally arranged.

Then, many questions are being asked about Envestio buyback or repurchase guarantee. Here is what Envestio FAQ section says:
———————————————-
“What if I change my mind? How does the buyback guarantee work?
Envestio buyback (or repurchase) guarantee means that any Envestio participant at any moment can sell an investment from his or her investment portfolio back to Envestio and instantly receive invested money back to his or her investment account. Since the funds, gathered via Envestio portal, constitute a certain share of total financing that is attracted to specific project, besides traditional funding from banks, Envestio is sufficiently capitalized to execute any buyback immediately.
Cost of performing buyback is calculated and shown to Envestio participant in Envestio personal area.
Please note that in some cases cost of buyback can account to substantial percentage of invested amount.”

How does it work in reality, and how secured debt differs from subordinated debt? Here is an example:

– Envestio participant invests EUR 1000 in a project that closes on November 30, 2018. Project assumes monthly interest payments.
– At any moment before 31/11/2018 it is possible to sell back the investment share to Envestio with 5% fee charge, i.e. for EUR 950. All interest payments, which are already received, remain in investor’s possession. This condition is the same for both secured and subordinated loans.
– In case the borrower does not repay the principal after 31/11/2018 the event of technical default takes place. After that the borrower still has 5 working days to settle the debt without legal proceedings. If this is not done, then the delay turns into standard default and Envestio, with a support of a leading Estonian debt collector agency, starts a legal process against the borrower, including execution of all guarantees that were provided.
– Investor, who invested EUR 1000 in a secured debt project, gets back 80% of the investment principal, which is EUR 800, on the next working day after the event of standard default has taken place. For the remaining 20% there is a choice: instantly get back half of this amount or wait until the debt is recovered from the borrower. As a result – at least 90% of the investment is fully secured.
– Investor, who invested EUR 1000 in a subordinated debt project is supposed to wait until the debt is recovered from the defaulted borrower using available legal instruments.

In order to provide more comfortable investing experience for the participants, Envestio is conducting negotiations with all owners of “subordinated-type” investment projects aimed at converting those into “secured-type” loans.

Get 1% cashback bonus for your investments on Fast Invest

By MPI24th July 2018News, Peer-to-Peer Lending, Smart moneybonus, cashback, Fast Invest, invest, peer-to-peer lending

Fast Invest will give you 1% cashback for your investments made until the 31st of August. There are no minimum or maximum limitations for this proposal.

Here is what you need to do:

– log in to your account or register
– add funds to your account
– pick loans from the loan list and start investing or
– create auto invest portfolio to invest these funds

The cashback proposal has its terms and conditions. Shortly:

– Cashback is applied only for funds added during the period from 16th of July till 31th of August.
– The bonus will be frozen for 12 months period. You need to keep your investments in FAST INVEST platform for at least for one year to get the bonus.
– If you are not able to hold your investments for twelve months, you will lose your bonus.
– The bonus will be automatically activated after twelve months investment period.
– This promotion cannot be used with other proposals.

Lime Zaim has launched on Mintos and initially offers investment opportunities in RUB and will begin to offer loans in EUR in the coming weeks

By MPI12th July 2018News, Peer-to-Peer LendingEUR, invest, investing, investor, Lime Group, Lime Zaim, Mintos, peer-to-peer lending, personal loans, RUB, Russia

The Lime Zaim company is a technology-driven financial service provider from Russia and will offer returns up to 13% and 18% for its EUR and RUB loans respectively on the Mintos peer-to-peer lending marketplace.

Lime Zaim, part of the Lime Group, was established in 2013 in Russia and began issuing loans in the first quarter of 2014. Lime Zaim’s lending products assist under-banked consumers to expand their purchasing power and to manage their short-term cash flow needs. To achieve this, the company offers short-term loans and instalment loans to citizens of Russia completely online. Its proprietary machine-learning scoring algorithms combine standard credit history information with behavioural and demographic factors to provide it with a more accurate credit score. This allows the company to offer credit to borrowers passed over by traditional lenders.

“The Mintos marketplace offers an outstandingly flexible source of funds enabling us to smooth capital flows by exactly matching assets with liabilities and to further diversify our funding structure,” says Kevin Hurley, Vice President of Finance at Lime Capital Partners.

On Mintos, the average Russia-issued personal loan from Lime Zaim is around RUB 7 000, and the average EUR equivalent is EUR 100. The average repayment period is 28 days. You can expect a net annual return of up to 18% for its loans listed in RUB and up to 13% for its EUR loans.

All loans from Lime Zaim come with the buyback guarantee from its mother company, Laim Zaim Holdings Limited. This means, if a loan is delinquent for more than 60 days Laim Zaim Holdings Limited will repurchase the loan. The loan originator will also keep 10% skin in the game, to ensure its interests align with those of investors.

Since its founding in 2013 by Alexey Nefedov and Stanislav Sergushkin, Lime Zaim have scored hundreds of thousands of loan applications, issuing 393 000 loans to more than 100 000 customers.

Lime Zaim’s revenue for 2017 was around EUR 11.6 million and net profit for the same time period was around EUR 1.4 million. As at January 1, 2018 it had a net loan portfolio of more than EUR 2.3 million.

Spanish mortgage lender FIREOF has just launched on Mintos p2p lending marketplace

By MPI10th July 2018News, Peer-to-Peer LendingFIREOF, FIREOF DM, invest, loans, Mintos, mortgage lender, peer-to-peer lending, Spain, Special Purpose Vehicle, SPV

There are now even more investment opportunities in mortgage loans, as Spanish mortgage lender FIREOF Management (FIREOF) has just launched on the Mintos peer-to-peer lending marketplace. You can invest in its loans now and enjoy net returns of up to 8%.

Established in 2015, FIREOF is an asset secured lending business whose mission is to provide a financial bridge to Spanish consumers. FIREOF pursues a win-win relationship with their borrowers. The company is fully licensed and audited and it provides its credit products through established brokers.

FIREOF has a Special Purpose Vehicle (SPV) that will place its loans on Mintos, FIREOF DM. An SPV is a subsidiary company with an asset/liability structure and legal status that makes its obligations secure even if the parent company would experience financial difficulties. The SPV used for Mintos investors was incorporated in 2016, while the holding company has been operating in real estate lending since 2009. All loans and investments will be held by the FIREOF DM, while FIREOF will service the loans. FIREOF DM, the loan originator as a pure cashflow SPV, has no employees nor liabilities except from the assignments of Mintos investors and its own equity from its investors and shareholders. The SPV adds an extra layer of security for investors on Mintos.

“Our motivation is to democratise the mortgage financing business by offering the opportunity for small investors to access the biggest financial asset in the world. Currently, only large financial institutions can invest in this market, and they alone benefit from the fixed income secured by real estate collateral. We want to change this,” said FIREOF Managing Director Agustín Fernández Clemente.

The average Spain-issued mortgage loans from FIREOF on Mintos will be EUR 50 000 with a repayment period from one to five years, which will be paid in monthly instalments. The loan-to-value (LTV) ratio is not greater than 45%. The typical borrower is a middle class wealthy real estate owner with a need for short-term liquidity.

To keep its interests aligned with investors, FIREOF will maintain 15% of each loan placed on the marketplace. The loans will initially not be secured with a buyback guarantee.

As of June 30, 2018, FIREOF has an assets under management portfolio of EUR 25 million. The company has eight full-time highly qualified senior employees with a total experience of more than 100 years in the Spanish real estate lending business.

New investment project in Latvia announced by Bulkestate – Barona Dainas II – Launch 10 july 2018

By MPI9th July 2018News, Peer-to-Peer Lending, Real estateBarona Dainas, Bulkestate, invest, investing, Latvia, peer-to-peer lending, property, real estate investments

Bulkestate announced today that it is preparing to launch a new investment project in Latvia.

Launch time: Tomorrow / 10 July 2018 / 16:00 (EEST)

The second phase of the project ‘Barona Dainas’ follows as the borrower has successfully completed the purchase of the property.

Interest rate: 18%

Investment target: 50,000 EUR
Loan period: 12 months
Future loan to value: 33%
Security: Equity

New investment project in Latvia announced by Bulkestate – Launch 6 july 2018

By MPI5th July 2018News, Peer-to-Peer Lending, Real estateBulkestate, invest, investing, investor, Latvia, mortgage, project, real estate investments

Bulkestate announced today that it is preparing to launch a new investment project in Latvia.

Launch time: Tomorrow / 6 July 2018 / 16:00 (EEST)

The property is a 2200 m2 large land plot on Lūku Street, in Mārupe district. The land plot is intended for private house construction. Mārupe is one of the closest private housing areas to Riga.

Interest rate: 13%

Investment target: 35,000 EUR
Loan period: 6 months
Loan to value: 49%
Security: Mortgage

The Mintos Refer-a-Friend Program is back! Get 1% cashback bonus!

By MPI4th July 2018News, Peer-to-Peer Lendingbonus, bonus program, cashback, Mintos, peer-to-peer lending, Promo code, refer-a-friend

Mintos Refer-a-Friend code can not be used on blogs (for general public) anymore, instead please use the affiliate link. If you invest for the first time on Mintos don’t forget that you can get 1% cashback bonus for your investment made in the first 90 days. To get the 1% bonus please use THIS LINK.

Mintos peer-to-peer lending marketplace have re-launched the Refer-a-Friend Program for a limited period of time.

How the program works?

In order to get the 1% bonus a promo code must be entered in the “Promo code” field during registration.

The promo code is: MINTOSCLUB.B7B9D7

Mintos will then reward both us and you with 1% of your invested amount. The reward will be calculated based on your average daily invested balance over a 3-month period – 30, 60, and 90 days after the registration date – and paid in three instalments.

For example, we refer Sara, who starts investing in loans via Mintos marketplace. After 30 days, the average balance Sara has invested over the period is EUR 3 500. Mintos will credit 1% of EUR 3 500 (EUR 35) to our investor account, and another EUR 35 to Sara’s investor account. After 60 and 90 days, Mintos will review the average invested balance again and, if it increases, credit both our and Sara’s investor account accordingly.

For other bonuses visit our Cash-back & Bonuses page.

Metroktredit loan originator from Russia just joined Mintos peer-to-peer lending marketplace

By MPI27th June 2018News, Peer-to-Peer Lendingbuyback guarantee, Central Bank of Russia, EUR, invest, investor, loan portfolio, loans, Metrokredit, Mintos, Russia, Short-term loans

There are now even more opportunities for investment on Mintos as Metrokredit has just launched on the marketplace and offers its short-term loans for investment in Euro (EUR).

Metrokredit was established in 2017 in St Petersburg, Russia and it is regulated by the Central Bank of Russia. The company offers short-term loans in RUB of up to RUB 30 000 to citizens of Russia. Metrokredit offers its borrowers a fast and convenient service. All loans are issued solely online via their website and for first-time borrowers, they can receive a loan in just five minutes once approved. For repeated borrowers the time is even shorter – they can have funds in their account in only one minute. The approval process is also very fast as the company uses an advanced self-developed scoring model. This allows the company to evaluate the creditworthiness of a borrower within 10 minutes. It is because of this fast and friendly service that the company has already attracted more than 14 000 customers.

The average Russia-issued short-term loan the company has placed on Mintos is around EUR 112. The repayment period is 30 days and borrowers repay their loan in a single instalment. You can expect net annual returns of up to 13% for its loans listed in EUR.

All loans placed on Mintos by Metrokredit have a buyback guarantee and will be repurchased if the loan is delinquent for 60 days or more. The company will also keep 15% of each loan it places on the marketplace to maintain its skin in the game.

As of May 30, 2018, Metrokredit had a net loan portfolio of EUR 725 000. Since its establishment, it has originated 21 000 loans worth more than EUR 2.2 million. The company has a steadily growing revenue increasing monthly by 25 to 50%.

This is a great opportunity to diversify your portfolio and invest in Metrokredit’s loans listed in EUR .

Simbo.dk joins Mintos and offers for investment short-term loans from Denmark

By MPI25th June 2018News, Peer-to-Peer Lendingbuyback guarantee, consumer loans, DKK, EUR, invest, investors, Mintos, Short-term loans, Simbo.dk, Toms Jurjevs

There are now even more investment opportunities from Denmark on Mintos, as Simbo.dk has just launched on the marketplace. Simbo.dk is one of the leading consumer loan providers in Denmark and now offers for investment its short-term consumer loans listed in euro (EUR) and Danish krone (DKK).

Launched in April 2017, Simbo.dk operates completely online and offers its customers a simple and fast way to receive a loan. The company prides itself on its high-quality customer service, which is reflected in its strong rating of 9.3 out of 10 on Trustpilot. Above all else, Simbo.dk ensures complete transparency with its loans – there are no hidden fees or interest. The efficient application process takes just one minute, and customers can have the funds in their account in 10 minutes.

“We are excited to begin this collaboration with Mintos and share our strong performing portfolio with investors on the marketplace. We believe Mintos will allow Simbo.dk to grow at an even faster rate and allow us to reach a larger customer base in Denmark, which is our goal,” says Toms Jurjevs, CEO of Simbo.dk.

Denmark-issued loans from Simbo.dk are listed on Mintos in both EUR and DKK. The average loan from the company on the marketplace is around EUR 500 and DKK 4 300. The repayment term on average is 30 days, and borrowers make their repayments in a single instalment. You can expect a yearly return of up to 13%.

Simbo.dk guarantees the buyback of all loans that are delinquent for more than 60 days. To maintain its skin in the game, the company will keep 10% of each loan placed on Mintos on its balance sheet.

Since its inception, Simbo.dk has experienced strong growth. As of the end of April 2018 the company had a net loan portfolio of EUR 4.1 million.

The rapid growth of Simbo.dk can be attributed to the extensive experience of the management teams within the fintech industry. The founder and CEO of Simbo.dk, Toms Jurjevs, has 8 years experience in top executive positions with online short-term consumer lending market leaders. He has overseen businesses in Latvia, Lithuania, Estonia, Armenia and Romania. In addition, the local Managing Director for the Danish market, Stefan Agergaard Hansen, has executive experience from multiple short-term lending providers including in the peer-to-peer industry. He has overseen operations and business development in Denmark, Norway, Sweden, Spain, Poland and Finland.