PeerBerry business partner – real estate developer SIB Group – has “successfully closed the real estate project “Bukčiai” in Vilnius, the capital of Lithuania.”
The real estate loan of €2 million plus interest rate €199,746 (total amount €2,199,746) was “repaid to PeerBerry investors on March 5, 2022.” The PeerBerry team has thanked everyone who “contributed to the implementation of the project ‘Bukčiai’.”
In another update, PeerBerry confirmed that it suspended loans from Ukraine and Russia.
The firm noted:
“Due to the conflict between Russia and Ukraine, from now on, no loans from Russia and Ukraine will be listed on the PeerBerry platform, and only repayments will be implemented for investments in Russian and Ukrainian loans under the timeframes set in the agreements. The supply of loans from other countries remains as usual.”
PeerBerry also mentioned that their business partners were “preparing for this situation for quite a time.” Their partners have “accumulated significant reserves in banks in the EU. Portfolios of our Ukrainian and Russian partners are 3 times higher than the amounts they need to return to our investors.”
PeerBerry also noted that it would “keep you updated about developments in Ukraine.”
Other platforms have also taken certain measures following this crisis.
As of February 24, Debitum has “closed for investments all available assets related to Ukraine until further notice in order to minimize exposure of the risk that evolves from the escalation of the situation in Ukraine.”
As a precautionary measure, Debitum will “not upload any new assets that originated in or in any way affiliated to Ukraine or Russia.”
After their existing Loan Originator portfolio analysis, they have concluded that only one Loan Originator, “Chain Finance” has exposure “to loans issued in Ukraine.” Please note – Investors that have already invested in these assets are “exposed to elevated risk related to the escalation of the Russian-Ukraine situation that can resolve into deferred payment, partial or complete loss of the particular investment.”
As always Debitum is “closely monitoring all Loan Originators and will be posting any relevant updates for full transparency,” the company confirmed.
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