Finbee investors earned €122,318 in May
Investors in Lithuanian peer-to-peer lending platform Finbee earned €122,318 (£104,965.42) in May, as the platform hailed a month of “solid originations” and new features.
The lender – which has originated more than €65m in loans since its launch in 2015 – said that it issued another €3.8m in business and consumer loans last month. €1.89m of this was loaned to businesses, which was eight per cent higher than the average of the past 12 months.
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The remaining €1.97m was issued to consumers, representing a 17 per cent increase on the average.
It was the best month of the year in terms of business loans recovery, with €70,199 collected. This equated to 8.57 per cent of all the platform’s non-performing loans.
€92,657 was recovered from consumer borrowers, representing 2.4 per cent of all non-performing loans.
Finbee’s current active loan portfolio is valued at more than €8.3m.
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“A significant part of our company’s income consists of the contract fee,” the company said in a blog post for investors.
“In order to be able to apply this fee at the time of disbursement of a consumer loan, we must co-finance at least 12 per cent of the loan amount according to the current consumer credit law requirements.”
The platform noted that several new features were launched in May, including the ability to set a minimum cash balance in the dashboard windows.
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