EstateGuru sees 35pc drop in loan origination in May as Lande lends record amount

Estonia-based crowdfunding platform EstateGuru reported a 35 per cent decrease in loan originations in May compared with April.

The company issued €3.65m (£3.1m) in loans in May, down from €5.6m the previous month. May’s figure was 50 per cent lower than the company’s peak so far this year, in February, when it issued €7.3m in loans.

Read more: Lande lending dips slightly in April

It said the decrease in May was mainly because “fewer loan applications met its credit standards” during the month.

During May, Lithuania led the way with €1.37m funded, closely followed by Estonia with €1.34m.

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Meanwhile, agricultural lending platform Lande, which lends to farmers in Latvia, Lithuania and Romania, reported record lending in May.

Farmers borrowed €1,417,200 through the platform across 43 projects, with €621,450 going to Latvia, €464,150 going to Romania and €331,600 going to Lithuania.

Read more: Lendermarket hits €500m invested with €30m earned in interest