Lendix Passes €15 Million in Lending to SMEs in France

Euros Money 500 Cash CurrencySince originating its first loan in 2015, Lendix has grown quickly to become a dominant player in the online lending sector in France.  At the beginning of the year, Lendix had raised €11 million in loans to finance 57 SME projects. As of last week, that number has grown to €15 million and 77 different SME projects financed by the marketplace lending platform. Lendix states that it is the market leader in P2P having captured 40% of the market in France – approximately twice the size of its nearest competitor.  Lendix expects to top €50 million over the next 12 months.

According to information posted on the Lendix site;

  • 42% of loans are for business growth purposes
  • 25% of their loans are for tangible asset purchases
  • 17% are for renovations
  • 8% to refinance current credit accounts or vendor receivables
  • 7 projects have been financed with loans ranging from €500,000 to €1 million

On the investor side, Lendix accepts both individuals and institutional money. Average gross interest rate for investors stands at 6.6%. The platform is pretty selective in who they lend money to having approved just a few of the over 7300 applications they have reviewed.

GOY-Nonneville-LendixSpeaking with Crowdfund Insider earlier this year, founder and CEO Olivier Goy explained;

“The opportunity is huge. Crowdlending should easily capture a piece of the €80 billion of annual SME lending. The only hurdle is communication. Most SMEs are still completely unaware of the actual opportunities presented by alternative finance. We need to educate them.”

 

 

 

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