Romanian alternative lending company Extra Finance has started a new line of business financing small- to medium-sized residential real-estate projects. Extra Finance will offer these loans to investors on the Mintos marketplace.
On average, projects financed by Extra Finance amount to EUR 0.8 million and have a one year repayment term. Prior to granting financing, all projects are carefully assessed and verified by an external real-estate company.
New loans listed by Extra Finance on the Mintos marketplace will have an interest rate of over 12% and a minimum of 10% skin in the game.
Extra Finance is a Romanian non-banking lender that has been operating for more than eight years. The company has branches in two Romanian cities. Last year, Extra Finance had a revenue of EUR 20.5 million, with a net profit slightly below the EUR 2 million mark. Their loan portfolio was EUR 14.6 million.
Extra Finance joined the Mintos marketplace at the beginning of 2017. So far, the company has financed loans worth more than EUR 300 000 through the marketplace.