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Post by Lucie on Aug 30, 2017 13:15:49 GMT
We are happy to announce that new product has appeared on Grupeer Platform. We offer to acquire claim rights within loans that have been issued by Latvian company to Russian micro credit company. The loans have been issued within the framework of General Contract for the provision of funding. Each loan is issued based on a separate agreement for a period of 2 to 3 months. Loan currency is euro. The interest rate offered to investors is 15% per annum.
To secure the investments, Grupeer Platform has applied the following measures:
1. BuyBack guarantee in case of payments delay for more than 15 days.
2. For each loan the Russian credit company provides a collateral consisting of a mass of debt claims, totaling of 200% of the loan principal. In case of default of the borrower it will pass to a SPV located in Russia that has been established purposefully and has a right of direct claims to the borrowers.
3. To provide financial controlling, a Grupeer Platform representative has been included in the board of the SPV.
4. All debt claims, pledged to secure the loan, have been individually inspected and are of good quality.
The first loan deals were placed on Grupeer Platform this Tuesday, August 29 and are already sold out, but within the next few days we will have more offers. In the future, we are planning to offer this type of deals on a regular basis.
Should you have questions, Grupeer Platform team will be glad to answer.
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Post by statomas on Sept 22, 2017 19:40:00 GMT
Hello, I have couple of questions regarding the following statements:
1. BuyBack guarantee in case of payments delay for more than 15 days.
Who is assuring the buyback? Grupeer or Creditor? As normally it is assured by Loan Originator, but here it does not exist...
2. For each loan the Russian credit company provides a collateral consisting of a mass of debt claims, totaling of 200% of the loan principal. In case of default of the borrower it will pass to a SPV located in Russia that has been established purposefully and has a right of direct claims to the borrowers.
This is very un-transparent. How could investor potentially know if its true? What is Creditor simply builds pyramid by taking more loans to pay interest rate and principals for the previous ones? In this case investors does not know anything about creditor, who is he giving loans to, what is the quality of its loans, etc.
Is there any plan for Grupeer to start offering loans directly to borrowers or via other loan originators, but exposing borrowers data?
Thank you.
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Post by Lucie on Sept 27, 2017 13:50:21 GMT
Hello, I have couple of questions regarding the following statements: 1. BuyBack guarantee in case of payments delay for more than 15 days. Who is assuring the buyback? Grupeer or Creditor? As normally it is assured by Loan Originator, but here it does not exist... 2. For each loan the Russian credit company provides a collateral consisting of a mass of debt claims, totaling of 200% of the loan principal. In case of default of the borrower it will pass to a SPV located in Russia that has been established purposefully and has a right of direct claims to the borrowers. This is very un-transparent. How could investor potentially know if its true? What is Creditor simply builds pyramid by taking more loans to pay interest rate and principals for the previous ones? In this case investors does not know anything about creditor, who is he giving loans to, what is the quality of its loans, etc. Is there any plan for Grupeer to start offering loans directly to borrowers or via other loan originators, but exposing borrowers data? Thank you. Dear statomas, Our Management Team has just returned from a business travel to Russia the purpose of which was to formalize all legal issues related to prospective cooperation with Russian microcredit companies. We believe this market has a good potential and will be attractive both for Grupeer Platform and our investors. As regards your questions, BuyBack is provided by Loan Initiator. We do apply a different method from the standard method of financing purposefully to minimize the risk. The sale of direct claim right to Russian Borrower as an individual on the Platform would be: A) Illegal. Deterioration of the rights of the borrower is violation of the legislation of Russian Federation; B) Too risky. You would probably not be happy, being left with a claim of 10 thousand Russian Rubles to a Russian citizen which you will sue him with in the Arbitration Court of Moscow or St. Petersburg. Especially taking into consideration Paragraph A. For this reason, the Credit Initiator uses a model, according to which a Russian credit company, under General Contract, receives loans in installments, securing each of them with a pledge of the mass claim rights to individuals to whom it has issued loans (List of Collaterals). Each list of outstanding collaterals has passed an independent scoring, based on using the database of Russian National Bureau of Credit Histories as well as Cronos database (information on violations of law and convictions of crime by a person). In case the Russian credit company does not repay a certain loan, the claim right to the list of collaterals passes to the Loan Initiator. Besides that, the transfer of claim rights takes place on the terms of the initial loan agreement with the right to receive the interest and penalties from the Borrower (individual) in full. In order to avoid all issues related to the fact that a European company received the claim right to the citizens of Russia - individuals, an SPV has been founded in the territory of Russia that, in case of such a scenario, will provide for debt collection from the borrowers whose loans have fallen in the List of Collaterals. Thus, the Loan Initiator is able to provide a BuyBack guarantee, as it is has a clear source to receive funds from. We would not like to provide a more detailed disclosure of information to the for investors, as we would like to prevent from copying the model, but the overall result of the model is that, in the event of a loan default on the part of the Russian credit company, there are separate independent claims both to the company and to the persons it issued loans to. Our Management Team will develop this model, now with the support of the Russian Association of Microfinance Organizations; negotiations are under way with a fairly large number of Russian credit companies involved. In general, Grupeer does not have plans to sell debts to individuals; we see a great prospect in selling "commercial transactions" with good collateral. In fact, the investor invests money in factoring and forfeiting transactions in banking language terms.
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