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Mintos welcomes a new loan originator to the platform! Eurocent, a stock market-listed company, has joined the Mintos marketplace and, starting today, will place medium-term personal loans issued in Poland on the platform. This is the first loan originator from Poland to issue loans offline.
Eurocent loans placed on the marketplace will range in size from EUR 75 to EUR 2 550 with loan terms of 8 to 18 months.
Eurocent will offer a buyback guarantee for loans that are delinquent for more than 60 days.
The annual net return for these loans is expected to range from 10% to 14%. Eurocent will also keep at least 10% of each loan placed on the platform on its balance sheet – its “skin in the game.”
Eurocent will offer investment opportunities in euro (EUR) and Polish zloty (PLN).
Eurocent was founded in 2004 as a limited liability company in Poland. In 2012, the business became a joint stock company. Its shares are traded on the Polish alternative trading market (Newconnect) of the Warsaw Stock Exchange. Eurocent’s management team is made up of individuals with extensive experience in the industry and long history with the company; management is supported by a hands-on chairman of the supervisory board. For the last 13 years, the company has successfully provided consumers with its financial services.
Since beginning its operations, Eurocent has served more than 93 000 clients and issued loans in the amount of EUR 42 million. In 2016, Eurocent issued loans worth EUR 6.8 million. Eurocent manages a loan portfolio of EUR 2 million, part of which has been securitized to institutional investors
Eurocent offers consumer loans to customers in person only. As of January 2017, Eurocent has 78 employees; around 500 financial representatives cooperate with the company.
The average client lives in a large or medium-sized city. Clients are largely women between the ages of 30 and 50. Loans issued are primarily used to cover unexpected expenses.
“Eurocent had decided to join the Mintos marketplace to diversify sources of financing and to gather necessary experience and skills to improve the quality of services and expand in foreign markets in the future,” says Eurocent representative (Grzegorz, Kolawa).
In 2013, Eurocent received the “Cheetah of Business” award as one of the fastest growing companies in Poland. The company has been also nominated for the “Symbol of friendly loan” award, which is given for providing individualized customer approaches and services at the highest level.
Eurocent’s mission is to provide financial support to less wealthy individuals who are outside the banking system because of low income, undocumented sources of income or temporary financial difficulties.