Mintos lifts IFN Extra Finance suspension on the Secondary Market

10.06.2020

mintosblog

A suspension on the Secondary Market has been lifted for IFN Extra Finance, allowing the trading of its issued loans.

So far, IFN Extra Finance has been honouring its obligations towards investors on Mintos, hence investors have been receiving regular payments upon their investments. The lending company has also presented Mintos an acceptable wind-down plan and has been orderly executing it.

The suspension lift is effective immediately. We will continue closely monitoring all further payments on behalf of IFN Extra Finance.

About IFN Extra Finance

IFN Extra Finance was founded in 2009 and is registered at the National Bank of Romania. Extra Finance has been operating for more than eight years and is the only Romanian Loan company that also provides online and mortgage backed loans. The company’s license got revoked and starting from 17 March 2020, new loans were not being issued to borrowers.

About suspensions on Mintos

Suspension of a particular lending company occurs when Mintos intervenes in the Market – Primary, Secondary, or both – to stop investing due to concerns about a company’s operations. Once suspended, new investments cannot occur until the suspension is lifted or lapses. When both Markets are suspended, this is intended to protect investors’ interests by preventing investments in new loans on the Primary Market, or the sale of existing loans issued by a lending company on the Secondary Market.

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