At the beginning of April 2018, GetBucks joined us for a live webinar where the guest speakers from the company – CEO of MyBucks, Tim Nuy, and the Corporate Finance Executive, Fernando Oltra – revealed some of the new investment opportunities the company would offer to investors on Mintos. This included the exciting revelation that GetBucks would offer investment opportunities in US dollar on the marketplace! Due to time constraints, some of the questions were left unanswered during the webinar, however, you can now read the answers from GetBucks below:
What happens to my buyback loans if GetBucks goes bankrupt?
All GetBucks’ lending entities are ultimately subsidiaries of the MyBucks Group, which would step-in in case of issues at a subsidiary level, no matter how unlikely.
The small economy currencies tend to be more unstable than EUR or USD – how is the forex risk taken into account?
We load the loans on Mintos in USD or EUR and make sure that our interest margin on the lend-out loans covers the FX risk
What’s the average interest rate per country GetBucks is requesting for the loans?
This ranges widely – short-term loans can be between 10-30% for a week or a month, simply as a result of the cost involved in granting credit. Long-term loans will be from c. 30% p.a. in local currency.
Have you hedged against forex risks?
We have partially hedged, in the long-term our strategy is to utilise as much local currency funding as possible to make sure there’s an asset and liability match.
