EcoFinance, the first loan originator to join Mintos from Russia, has expanded its offering to Mintos investors, by placing new unsecured personal loans on the marketplace for you to invest.
Established in 2015, EcoFinance has become one of the leading consumer lenders for subprime and underbanked clients in Russia. Already, EcoFinance offers you the opportunity to invest in its short-term loans. Today, EcoFinance has placed its personal loans, issued under its CreditPlus brand, with even higher returns.
EcoFinance has more than 2.5 million registered client accounts in Russia. As of June this year, the company has funded more than EUR 80 million worth of loans. EcoFinance holds a Microfinance company license provided by the Central Bank of Russia.
EcoFinance’s new offering on Mintos
Russia-issued EcoFinance loans on the Mintos marketplace range from EUR 20 to EUR 450, with a repayment period of up to 60 days which are repaid in two instalments. The loans will be listed in both EUR and RUB. For loans listed on Mintos in EUR, the expected net annual return for investors is up to 12%. For loans listed in RUB, the return offered is up to 19%.
All of EcoFinance’s personal loans placed on the marketplace are secured with a buyback guarantee. This means, should a loan become delinquent for 60 days or more, it will be repurchased by the loan originator. In addition, the company keeps 10% of all loans placed on Mintos, in order to maintain its skin in the game.
More investment opportunities in Russia are coming soon
In the future, EcoFinance plans on adding even more instalment loan products for investment on the marketplace, hence, gradually shifting away from its short-term loan offering. These will be from Russia. As well short-term loans are planned to be proposed from other markets the company operates in.