Estateguru has shared its latest Loan Portfolio Overview for the month of March 2024.
Estateguru says they have “originated €6.9M worth of loans in March, with the majority of funding coming from Estonia, and Latvia.”
Estateguru reveals that it “saw €8.4M in loan repayments, with an additional €1.4M from recovered loans.”
Estateguru mentioned in a blog post that they “originated €6.9M worth of loans in March, with the majority of funding coming from Estonia, and Latvia. We saw €8.4M in loan repayments, with an additional €1.4M from recovered loans.”
Estateguru further noted that the total repayments “amounted to €9.8M, a 20% increase when compared with February (€7.8M repaid, €0.1M recovered).”
The report stated that the total returns “amounted to €1.1M, with an average return rate of 9%.”
In March, Investors via Estatguru are said to have “received €9.7M in returns from repaid and recovered loans (including interest, bonuses, penalties and indemnities).”
The update from the European investment platform further revealed that the loan repayment rate “continues to increase month on month in 2024.”
The Estateguru team says they are pleased to note “that for loan projects originated in 2023, 31% are repaid, and 62.2% are performing at the end of March 2024.”
The default rate is “below their long-term goal of 5% (end of March 2024 at 3,5% including partially recovered loans).”
According to Estateguru, this demonstrates “the efficacy of their credit and risk assessment policies after the changes we made during 2022 and at the beginning of 2023, in accordance with new legislation and risk appetite.”
Loan origination numbers in March (€6.9M) via Estateguru has reportedly “increased slightly when compared to February (€6.5M).”
The new loans all meet “the criteria outlined in our enhanced credit policy, and they have all received a grade of B or higher according to Moody’s Analytical Assessment.”
56% of all funding in March “was facilitated through the Auto Invest feature, while 44% was invested manually. The Kollane project in Estonia, at €803M, was the largest funded project in March.”