9 September 2020 Since the launch of the new strategies... Read more →
TASCREDIT a secured car loan lender from Kazakhstan. The company’s loans in euro (EUR) and Kazakhstani tenge (KZT) are now available on Mintos with a B- Mintos Rating and with expected annual returns of up to 11% (loans in EUR) and up to 17% (loans in KZT).
The company has 30 branches in Kazakhstan and 2 branches in Moscow, Russia. All operations are managed by a team of over 250 professional team members. With transparency as the company’s main value, TASCREDIT has acquired more than 85 000 customers since 2010.
Established in 2010, TASCREDIT is celebrating its 10-year anniversary in 2020. TASCREDIT is the brand under which operates two legal entities – TAS Credit LLP and TAS Finance LLP. TAS Finance LLP is the first entity to join Mintos. In the first 8 months of 2019, TAS Finance’s net loan portfolio reached a value of EUR 6.1 million, with a net profit of EUR 1.5 million.
The total net loan portfolio of both entities is EUR 18 million. The second legal entity – TAS Credit LLP – is expected to join Mintos in the near future.
The company’s reports show that approximately 50% of all its customers are entrepreneurs that borrow money for business purposes. The other half are consumers who take loans for personal needs. Out of all loans issued up to date, the company reports less than 3% have defaulted.
“Overall, we’re aiming to become a high-tech innovative financial company that can compete in global markets outside of Kazakhstan. We also plan to take a leap and transfer our business model into digital banking. Partnership with Mintos provides an opportunity to realize these goals, faster than planned.” says Mr. Dulat Tastekeyev, CEO of TASCREDIT.
TASCREDIT on Mintos
TASCREDIT now offers its Kazakhstan-issued loans on Mintos, listed in EUR and KZT currencies. The loans range from EUR 150 to EUR 74 000, with an average loan amount of EUR 1 600. All loans have two possible maturities, the first one being a one-month loan with an extension up to 36 months or a 12-36-month loan. All loans placed on the marketplace will be secured with a buyback guarantee, and will be repurchased by the loan originator should the loan become delinquent for 60 days or more and the company has a 10% skin in the game. On Mintos, TASCREDIT has received a B- Mintos Rating and offers investors loans with expected annual returns of up to 11% (loans in EUR) and up to 17% (loans in KZT).
To obtain exposure to TASCREDIT loans, investors will be able to invest in loans issued by Mintos Finance to TASCREDIT, where repayments depend on the borrower’s payments. Each loan issued by Mintos Finance to TASCREDIT will be pegged to a respective loan issued by TASCREDIT to the final borrower. Mintos Finance is a Mintos group company. A detailed description of the new structure is available in the Mintos Finance loan agreement and assignment agreement.
Don’t miss out on this great opportunity to invest in Kazakhstan-issued secured car loans from TASCREDIT. If you use Auto Invest, be sure to update your settings accordingly.