Debitum originator celebrates €1m loaned
Debitum-affiliated loan originator Sandbox Funding has issued its first €1m (£0.86m).
The milestone was reached just months after the originator began issuing loans. It specialises in funding Latvia-based companies which are focused in the forestry and agriculture, energy, and eco-house construction industries.
“We started to test Sandbox Funding in May, but the first big Sandbox Funding ABS was launched in late June,” said Henrijs Jansons, chief executive of Debitum.
Read more: Debitum Network originator launches new ABS program offering 11.25pc interest
“Within summer we have issued €1m. Results show that our investors prefer to invest not only in Debitum existing and well-proved loan originators but also in newcomers such as Sandbox Funding.”
Jansons added that more than €600,000 of the €1m funded has already been covered by investor funds.
Read more: Debitum Network adds new ABS assets during “very active” July
“Interest payments are on time, and we plan to have the same in the future,” he added.
Sandbox Funding is a Latvian non-bank financing company that issues business loans to small- and medium-sized enterprises registered in the EU and EEA.
It is one of a number of originators affiliated with Latvia-based peer-to-peer lending platform Debitum, including Evergreen Capital and Triple Dragon.
Read more: Debitum originator launches summer cashback offer
