Moldova-based peer-to-peer lending platform Fagura has expanded its product offering by increasing its term times and the amount of money that can be borrowed.
The business lending platform will now let small- and medium-sized enterprises (SMEs) borrow up to €15,000 (£13,000), up from a maximum loan value of €10,000 previously.
The repayment period has been extended to a maximum of four years to give SME borrowers more time to manage income fluctuations and other unexpected financial challenges.
“With the new ceiling of the loan amount of €15,000, SMEs now have the possibility to finance more ambitious projects,” the platform said.
“Whether it is working capital, the opening of the e-commerce line or a new subsidiary, operational costs or a new production line, this significant increase in the amount available for borrowing allows to tackle large-scale projects, offering an increased growth prospect.
“The extension of the loan period to four years…means lower and more manageable monthly payments, which reduces short-term financial pressure and allows for more efficient financial planning.”
Fagura added that the new lending terms will create more benefits for investors, including a wider choice of loans and more opportunities for portfolio diversification.
“The extension of loan limits and repayment periods at Fagura is an important step in the evolution of the platform, offering significant benefits to both borrowers and investors,” the platform added.
“These changes underline Fagura’s commitment to innovate and meet the ever-changing needs of its customers.
“With these new features, Fagura strengthens itself as a key player in the P2P lending market.”
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