Jet Car joins Bondster platform
Bondster has added Jet Car as a new loan provider on its platform, offering investor returns of between 10 and 12 per cent.
The Kazakhstan-based lender provides financing for new and used cars, as well as consumer loans secured by cars as collateral.
The company has provided funding to more than five thousand clients since launching in 2018, Bondster said, and is managing a loan portfolio of over two trillion Kazakhstan tenge (£3.48bn).
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Jet Car’s loans range from three to 84 months, with an average term of 40 months. Loan sizes range from 300,000 to 15 million tenge.
Bondster said that Jet Car’s typical loan size is up to two million tenge, while the average loan to value (the ratio between the amount of the loan provided and the collateral value of the car) is 78 per cent. Loans are then repaid in regular monthly instalments.
Bondster’s team of analysts have assigned Jet Car a B+ rating.
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“The company’s financial statements show that its loan portfolio grows by about 30 per cent each year,” Bondster said in a blog post on its website. “Kazakhstan has a population of about 19 million and thus offers enormous space for the company’s dynamic growth to continue in the years to come.”
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Earlier this month, Bondster added UK lender Huddle Capital as an originator. Its business loans offer investors an average interest rate of 12.8 per cent.