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We are pleased to announce another loan originator has joined Mintos! This time, it’s Kredo Finance from Albania! Therefore, you now have the chance to invest in its consumer loans and earn net annual returns of up to 12%.
Kredo Finance is a fairly young but rapidly developing micro-lending market participant in Albania. The company’s principal objective is to satisfy individuals’ short-term liquidity needs in a quick, simple and hassle-free manner. The company is fully licenced and operates in accordance with the Central Bank of Albania.
Alongside its main goal to be a leading provider of top-notch online lending solutions, Kredo Finance has an extensive branch network across the country. Currently, the company has 14 dedicated sales offices in Albania and it aims to increase this number to 17 by the end of 2018.
On Mintos, Kredo Finance will offer single payment (short-term) loans and personal instalment loans. Single payment loans range from EUR 35 to EUR 360 with a maturity of up to 30 days. Instalment loans have a maturity of up to 12 months with a value of up to EUR 1 100.
All loans placed on Mintos by Kredo Finance have a buyback guarantee and will be repurchased if the loan is delinquent for 60 days or more. The company will also keep 15% of each loan it places on the marketplace on its balance sheet to maintain its skin in the game. Kredo Finance is related party to Mintos.
“Kredo Finance is thrilled to join the Mintos marketplace and offer investment opportunities to investors. The partnership with Mintos is in line with our fast and efficient products, and will help Kredo Finance to take the extra step and position itself as the fastest and most efficient micro-lending company in the Albanian market,” says Arlinda Muja, Country manager of Kredo Finance.
Since the company’s establishment at the end of 2017 up until the end of September 2018, the total amount of loans issued by Kredo Finance is more than 3 000 loans worth EUR 3.1 million. Its net portfolio as of the end of September 2018 has reached EUR 1.6 million. Historically, the company’s First Payment Default (FPD) level is below 10%.
The main feature which characterizes Kredo Finance is its focus on reaching people who require financing in the fastest way possible. Kredo Finance’s lending process for new customers does not take longer than 15 minutes from the application to cash delivery (or bank transfer), for existing customers this process takes three minutes at most.
Albania-issued loans from Kredo Finance are available on Mintos for investment now, so don’t miss out on this great opportunity. If Auto Invest is your preferred investment method, then be sure to update your settings accordingly so you can earn net returns of up to 12%.