Post by buttchopf23 on Jul 25, 2016 11:07:11 GMT
We are truly pleased to announce our new cooperation with Lendo, a non-bank credit lender from Georgia. Lendo will offer short-term unsecured loans on the Mintos platform.
The average loan will range around EUR 100 with a 30-day due date. Lendo will offer a buyback guarantee for loans that are delinquent for more than 60 days.
Average annual net return for these loans is expected to be 14%. Lendo will keep at least 15% of each loan that they place on the platform on its balance sheet – the so-called “skin in the game”.
Lendo is founded in 2016, and the business management team has committed focused work and significant investments to quickly gain a market position in Georgia.
Lendo already has 16 branches in Georgia's largest cities — Tbilisi, Batumi, Gori and Rustavi. The braches are situated in areas with heavy foot traffic, for example, near shopping centers, or close to metro stops and markets. Lendo expects to open at least 10 new lending locations in the next three months. Already employing more than 70 people, Lendo ensures excellent customer service.
Their typical client is a resident of Georgia between the ages of 26 and 45 with an average income. While Lendo lends through the Internet, contracts for a client's first loan can only be signed at branches of the company. This allows the company to get to know their clients and minimizes the risk of fraud. Lendo analyzes information available from public databases to evaluate credit loan applications, looking at clients’ current liabilities and overdue loans (if any).
Lendo's management team has more than 10 years of leadership experience in the banking sector. To date, Lendo has financed all loans from its equity and shareholders' loans.
The average loan will range around EUR 100 with a 30-day due date. Lendo will offer a buyback guarantee for loans that are delinquent for more than 60 days.
Average annual net return for these loans is expected to be 14%. Lendo will keep at least 15% of each loan that they place on the platform on its balance sheet – the so-called “skin in the game”.
Lendo is founded in 2016, and the business management team has committed focused work and significant investments to quickly gain a market position in Georgia.
Lendo already has 16 branches in Georgia's largest cities — Tbilisi, Batumi, Gori and Rustavi. The braches are situated in areas with heavy foot traffic, for example, near shopping centers, or close to metro stops and markets. Lendo expects to open at least 10 new lending locations in the next three months. Already employing more than 70 people, Lendo ensures excellent customer service.
Their typical client is a resident of Georgia between the ages of 26 and 45 with an average income. While Lendo lends through the Internet, contracts for a client's first loan can only be signed at branches of the company. This allows the company to get to know their clients and minimizes the risk of fraud. Lendo analyzes information available from public databases to evaluate credit loan applications, looking at clients’ current liabilities and overdue loans (if any).
Lendo's management team has more than 10 years of leadership experience in the banking sector. To date, Lendo has financed all loans from its equity and shareholders' loans.
