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We are pleased to announce that, starting today, loans issued in Poland will be available for investment on the Mintos platform. The Aforti group company Aforti Finance, which lends to small and medium-size businesses in Poland, has joined the platform.
The average loan amount that Aforti Finance will place on the Mintos platform will range from EUR 1 200 to EUR 12 000, with repayment in 3 to 12 months. It is forecast that the average annual net yield will be 9 – 11.5%.
Aforti Finance offers its services in four regions of Poland: Central Poland, Pomerania, Greater Poland and Silesia. The company has developed an extensive sales network. The typical Aforti Finance customer is entrepreneur with a profitable business and a yearly turnover around 100 000 EUR.
In terms of sustainable business development, Aforti Finance has developed a stringent customer creditworthiness evaluation procedure. Clients must have very good credit history and a strong cash flow in their business. On average, only every fourth application is approved.
The Aforti Holding is listed on the Warsaw Stock Exchange (the New Connect Alternative Stock Market). In 2015, Aforti Holding’s revenues were EUR 10.2 million with a profit of just over EUR 136 000. The value of assets was EUR 4.5 million. Taking into account the potential of the market, the management at Aforti Holding is working to improve the key indicators of the company every quarter.
All loans are originated, pre-funded, and serviced by Aforti Finance. This means that the loans palced on the Mintos platform have already been funded — investors can start earning interest as soon as they have invested in a loan. To align interests with investors, Aforti Finance will retain 5% of each loan on their books.
The Mintos team is pleased to have the opportunity to add yet another non-bank lender to the platform, offering investors even broader investment possibilities. Currently, one can invest on the Mintos platform in loans that have been issued in the Czech Republic, Estonia, Georgia, Latvia, Lithuania, and Poland.