Financiera Contigo (CEGE Capital), one of the largest Mexican microfinance loan providers, is now offering a cashback for investors on Mintos – “for a limited time only.”
For Notes with a remaining term of 2 months 0 days or more, you can earn a cashback of:
- 0.5% for investments in Notes between €50.00 and €100.00 (cumulative)
- 1% for investments in Notes of €100.01 or more (cumulative)
- This offer is valid from 12 to 25 September 2022.
To qualify for the cashback bonus, you’ll need “to enroll in the campaign and invest a minimum of €50.00 (cumulative) into Notes for Financiera Contigo.”
As of 12 September, there’s “around €640 000 of qualifying Notes available on Mintos with interest rates of 11 – 14.5%.”
Only investments “made on the Mintos Primary Market via manual investments or custom automated strategies qualify.”
Investments made “before enrolling or made via Diversified, Conservative, or High-yield strategies are not eligible.” The cashback will be “credited to your Mintos account within 8 business days after making the investment.”
Notes for Financiera Contigo are “listed on Mintos in EUR.” The original currency in which the underlying loans were issued is MXN. The company “has full currency hedging in place.”
At the time of the cashback launch, 85% of “outstanding investments in Financiera Contigo loans (via Notes and claims) on Mintos are current.”
The company has “no payments that have been pending longer than the normal settlement period of 8 days.” For changes in the status of pending payments, see Loan statistics.
As noted in the update, Financiera Contigo (legal name CEGE Capital) is “a lending company operating in Mexico that was founded in 2010 and is one of the largest and most well-known microfinance companies in Mexico.”
The lending company “offers an array of financial products to communities that lack access to the general banking system, with a special focus on improving the lives of women entrepreneurs and their families – all while generating positive employee, shareholder, and supplier relationships.”
When Financiera Contigo enters a community, its financial advisors conduct outreach “to inform potential customers about its products and educate them on personal finance management to mitigate the risk of over-indebtedness.”
Upon approval, branch managers “visit customers on-site and disburse loans through debit cards or money orders.” Financial advisors then “meet with customers each week to provide support with loan management and repayment.”