Business lending provider NovaLend, which is focused on supporting small businesses in Poland, has reportedly joined PeerBerry with an 8% annual return on investing in business loans secured by a buyback guarantee.
According to the update shared by European investment platform PeerBerry, the lender’s loan portfolio is pledged to the platform to ensure higher protection for investors.
PeerBerry has said that it will fund only a part of loans issued by NovaLend.
If these loans meet the clients’ particular investment strategy, then they may potentially consider including NovaLend in the Auto Invest, the PeerBerry team added.
They confirmed that they’ll begin offering Polish business loans on the platform this Thursday (October 3).
Established in March 2023, NovaLend is a financial firm that claims to be focused on helping small businesses in Poland grow.
The firm reportedly provides up to 12 months term loans ranging from € 2,000 to €50,000 for working capital, equipment purchases, or business expansion.
Sergii Demchuk, CEO of NovaLend said that they believe in the potential of small businesses and understand that many small firms tend to struggle to get the financing they need from traditional banks.
Sergii Demchuk of NovaLend explained that’s why they aim to offer fast, reliable loans for micro and small businesses.
They’re also pleased to work with the European Investment Fund (EIF), which helps us manage risks and offer secure loans to their clients.
Since they began doing business, the NovaLend team says they’ve lent around EUR 5 million, with a low default rate of just 3%, showing tgeir commitment to “responsible lending,”
As clarified in the update from PeerBerry, about 40% of NovaLend shares belong to Aventus Group.
As noted in the update from PeerBerry, the present Polish regulation prohibits local lenders from using funding from investment platforms to issue loans to private individuals.
But there are presently no restrictions on financing business loans.
