Non-bank credit lender Banknote will now offer secured loans using personal property as collateral (pawnbroking loans) issued in Latvia on the Mintos marketplace. This is a new loan type on the platform, giving investors even more opportunities to diversify their investment portfolio.
The Mintos platform will host Banknote loans averaging from EUR 100 to 5,000 with a repayment deadline of 14 days to 24 months. The annual net return to investors is expected to reach 9.5%.
Banknote already places consumer loans issued in Latvia on the Mintos marketplace.
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We would like to inform you that, going forward, there is a new structure for investing in Banknote loans. Banknote has extended its license for providing consumer credit services in Latvia for an indefinite period of time. The new structure takes into account limitations imposed by the license.
How will the new process work?
To obtain exposure to Banknote loans, investors will be able to invest in loans issued by Mintos Finance to Banknote where repayments depend on the borrower’s payments. Each loan issued by Mintos Finance to Banknote will be pegged to a respective loan issued by Banknote to the…