Do you want more investment opportunities from Poland? Your prayers have been answered, as one of the largest Polish money-loan product providers, Everest Finanse S.A. has just launched on the Mintos marketplace by placing its personal loans for investment.
Everest Finanse has been operating since 2000 and issues its loans under the Bocian Pożyczki brand. Since its inception, the loan originator has issued more than 1.5 million loans worth around PLN 3.5 billion (around EUR 811.7 million).
The company’s core business is providing loans in the traditional home credit model. Everest Finanse is one of the 3 biggest money-lending businesses in Poland, having a market share of 12.4%, according to its own estimations. As of December 31, 2018, the firm had a net loan portfolio of EUR 83.1 million.
Borrowers can apply for a loan through three different channels – online, by phone or SMS. The vast majority of loans are granted for 35 – 82 weeks (8 – 18 months) in the amount of PLN 1,000 (EUR 232) to PLN 3,000 (EUR 696).
In October 2017 Everest Finanse finalised the purchase transaction of 100% of shares of Tempo Finanse sp. z o.o – the first M&A transaction in the Polish non-bank lending market. The total value of the transaction amounted to PLN 57 million (EUR 13.2 million).
Everest Finanse on Mintos
Initially, Everest Finanse is placing its loans on the marketplace as a test and in the EUR currency. The average loan size is EUR 550, with a total range of EUR 140 up to EUR 3,000. The average maturity is 45 weeks (10 months) and you can expect a net annual return of up to 8.5%.
To align its interests with those of Mintos investors, Everest will retain 5% of each loan placed on Mintos on its balance sheet. All loans from Everest will come with a buyback guarantee. This means, should a loan become delinquent for 60 days or more, it will be repurchased by the loan originator.
Based on operational financial statements, in 2018 Everest Finanse reported that revenues from its core business operations reached PLN 303.9 million (EUR 70.5 million) with EBITDA of PLN 65.0 million (EUR 15.1 million).
Take advantage of this great opportunity to diversify your investment portfolio! If you use Auto Invest be sure to update your settings accordingly.