PeerBerry originator Litelektra repays €300k loan to investors
PeerBerry originator Litelektra has repaid a €300,000 (£266,665) loan to investors this week, with €15,593 in interest.
The European peer-to-peer lending marketplace announced the green energy company’s loan repayment in a blog post on its website today.
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Lithuania-based Litelektra , which produces solar and wind energy, has electricity supply agreements with state-owned companies. Companies purchase energy from Litelektra at an agreed price from one to three years, which guarantees constant and stable cash flows.
Litelektra joined PeerBerry’s marketplace in December 2021, offering six-month renewable energy business loans with a 10 per cent annual return for investors.
The loans are secured by a buyback guarantee and a Gofingo Group guarantee.
Gofingo Group is one of PeerBerry’s main partners and has signed additional guarantee agreements with loan originators such as Litelektra. If the originator becomes insolvent, other Gofingo Group companies will cover all the liabilities to protect investors’ funds.
Earlier this month, PeerBerry announced that it had repaid another €1.8m of war-affected loans, meaning it has now repaid two thirds of loans – totalling €33m – that could be affected by the Russian invasion of Ukraine.
Read more: PeerBerry launches crowdfunding product after busy January