Creamfinance LLC, a European online consumer lending company, has recently reached an agreement with peer-to-peer lending platform Mintos. From now on, investors will be offered an opportunity to invest in short-term unsecured loans issued in Georgia.
“We are convinced that by cooperation with Mintos, our loans will be more available to a wider circle of investors, which, in turn, will allow us to spread risk and offer investors more advantageous rates of return.”
Creamfinance will originate loans of up to EUR 600 with a due date of up to one month. The net return to investors is forecast up to 14% on an annual basis. The agreement also includes a buyback guarantee, which means that if a loan is delinquent for more than 60 days, Creamfinance will repurchase it from the investor.
Consumer finance services provider Creamfinance was founded in 2012 in Latvia and has achieved an instant growth since, opening business in Czech Republic and Slovakia by the end of 2012 and in 2013 in Poland.
The company is currently operating lending services and offering financial products to customers in five countries: Latvia, Czech Republic, Slovakia, Poland and Georgia. To minimize consumer effort and maximize risk management, Creamfinance puts emphasis on using the most advanced and representative scoring techniques.