We are pleased to announce that starting today, Creamfinance is offering a new product on the Mintos marketplace — consumer loans issued in Georgia with repayments in several installments.
Loans placed on the platform are expected to average EUR 900 with a repayment period of 10 months. The average net annual return for these loans is expected to be between 10-12%.
Up until now Creamfinance short-term unsecured loans with repayment in single installment issued in Georgia under its CreditON brand were available for investments on the Mintos marketplace. Since joining the platform, more than EUR 15 million in Creamfinance loans have been financed through Mintos. Creamfinance will keep at least 15% of each installment loan put on the Mintos marketplace on its balance sheet.
“We are truly pleased with our cooperation with the peer-to-peer lending platform Mintos. We have noticed that investor interest regarding loans issued by Creamfinance is very significant, and we are searching for opportunities to expand our investment product offering. Longer-term consumer loans with a buyback guarantee allow investors to plan their cash flows better and to have confidence, that the invested funds will work in favour of the investor,” emphasizes Georgijs Ustinovs, Head of Financial Planning & Control at Creamfinance.
Creamfinance loans are in high demand on the Mintos marketplace, therefore, we are happy that investors will have access to an even larger range of loans. Consumer installment loans are larger and have comparatively longer repayment terms. This gives investors the opportunity to fix the interest rate on their investment for a longer time period.
Creamfinance was founded in 2012, and issues online consumer loans. Creamfinance ensures outstanding and technologically-based lending in five countries — Latvia, Czech Republic, Georgia, and Denmark. To date, the company has issued more than EUR 150 million in loans.
Learn more about Creamfinance loans and invest.