GBP – Passive income

First loan originator from the United Kingdom launches on Mintos

By MPI27th February 2018News, Peer-to-Peer Lending1pm, business loans, FCA, GBP, Mintos, SMEs, UK

The first British loan originator launches on Mintos. 1pm is an FCA accredited non-bank finance provider which is publicly listed on the AIM market on the London Stock Exchange. The company provides various loan types to small and medium enterprises (SMEs) in Britain. On Mintos 1pm now offers business loans for investment in British pounds (GBP), and you can enjoy a net return of up to 11%.

1pm was founded in 2000 and listed on the London Stock Exchange in 2006. The company is dedicated to helping the United Kingdom’s economy grow by providing finance to businesses. It offers many finance solutions to SMEs within the United Kingdom including asset and vehicle finance, hire purchase, commercial loans and invoice financing.FCA,

1pm currently operates from eight sites across the United Kingdom. The company employs 170 people and has more than 16,000 small businesses as clients. 1pm offers its customers great flexibility, high-quality service and a personal approach. Based on customer surveys 1pm is seen as flexible, personal, trusted and fair.

“An important part of our strategic growth plan is to harness the benefits of financial technology. By joining the Mintos marketplace, we will now be able to accelerate the amount of loans that are originated by our business and to access retail global investors efficiently, a funding source that would be unavailable to us without this digital capability,” says CEO of 1pm plc Ian Smith.

1pm business loans from the United Kingdom on Mintos range from GBP 3 000 to 50 000. The repayment period is from 3 months to 5 years. Investors can expect a yearly net return of up to 11%.

1pm will maintain 10% of each loan placed on Mintos on its balance sheet. Loans from the company have a low level of risk, historically net bad debt has been less than 1% of its total loan portfolio. All loans from 1pm are secured with a personal guarantee from the owner or director of the company which the loan is provided.

1pm has a total lease, loan and invoice finance portfolio of GBP 130 million. The interim financial results for the six-month period that ended on 30 November 2017 for 1pm plc showed the group’s revenue increased by 74% to GBP 13.9 million. Profit before tax for the group increased by 77% to GBP 3.6 million.

According to the UK Alternative Finance Industry Report, the alternative finance market grew by 43% between 2016 to 2017. The alternative lending industry in the United Kingdom has become an essential way for SMEs to access funds. Currently, there are around 5.5 million SMEs in the United Kingdom which employ about 15.6 million people according to BEIS Business Population Estimates. During 2016 the alternative lending industry provided an equivalent of 15% of all new loans lent to small businesses by United Kingdom banks.

“The United Kingdom has one of the largest alternative finance markets in the world. We are very excited to have expanded Mintos into this geography by launching 1pm on the marketplace. The company is a great addition and offers investors on Mintos a new geography and further opportunities in GBP investments. We look forward to this partnership with 1pm and to seeing further partnerships arise in this market,” says Martins Sulte, CEO and Co-founder of Mintos.

Don’t miss out on this fantastic opportunity and invest in Britain-issued business loans from 1pm now!

Mogo is first on Mintos P2P marketplace to offer investments in GBP

Great news for investors looking to invest in British pounds (GBP)! Non-bank car loan provider Mogo now lists its loans issued in Poland in GBP on the Mintos marketplace. GBP is the eighth currency investors can invest in through Mintos.

“Seeing the rapidly growing number of investors from the United Kingdom and the high demand for loans listed for investment in GBP on Mintos, we decided to list our loans from Poland also in GBP. We are sure this move will be beneficial for investors on Mintos and our business, as well,” says Māris Kreics, CFO of Mogo Finance.

Mogo loans available on the Mintos marketplace for investment in GBP will be the same as Poland-issued loans already listed on Mintos in PLN. Loans will range from GBP 254 to GBP 7 350, with a repayment deadline of 6 to 48 months. The annual net return to investors will range from 8.5% to 13%. Mogo will offer a buyback guarantee for loans that are delinquent for more than 60 days. The loan originator will retain at least 5% of each loan placed on the Mintos platform on its balance sheet as its skin in the game.

Mogo is one of the top loan originators on the Mintos marketplace. The company joined Mintos in March 2015, and has since funded car loans worth EUR 75 million through the marketplace. To date, the average net annual return offered for Mogo loans has been above 12%.

With a total of more than EUR 300 million in loans originated since the company was founded in 2012, Mogo Group is the largest non-bank car loan provider in the region, with operations in Latvia, Lithuania, Estonia, Georgia, Poland, Bulgaria, Romania, Armenia and Moldova.

The aggregate net loan portfolio of Mogo Group is more than EUR 90 million. Mogo Group has demonstrated consistent profitability. Last year, it generated EUR 6 million in net profit, and projects a net profit of EUR 10 million for 2017.

Investing in GBP on Mintos

There are two ways to invest in GBP loans on Mintos: by transferring GBP directly to your investor’s account on Mintos or by converting your currency into GBP on the Mintos marketplace.