Sunday, April 21, 2024

PeerBerry originator Litelektra repays €300k mortgage to traders

PeerBerry originator Litelektra has repaid a €300,000 (£266,665) mortgage to traders this week, with €15,593 in curiosity.

The European peer-to-peer lending market introduced the inexperienced vitality firm’s mortgage reimbursement in a weblog submit on its web site right now.

Learn extra: PeerBerry updates auto-invest operate and app

Lithuania-based Litelektra , which produces photo voltaic and wind vitality, has electrical energy provide agreements with state-owned corporations. Corporations buy vitality from Litelektra at an agreed worth from one to 3 years, which ensures fixed and secure money flows.

Litelektra joined PeerBerry’s market in December 2021, providing six-month renewable vitality enterprise loans with a ten per cent annual return for traders.

The loans are secured by a buyback assure and a Gofingo Group assure.

Gofingo Group is one among PeerBerry’s major companions and has signed further assure agreements with mortgage originators corresponding to Litelektra. If the originator turns into bancrupt, different Gofingo Group corporations will cowl all of the liabilities to guard traders’ funds.

Earlier this month, PeerBerry introduced that it had repaid one other €1.8m of war-affected loans, that means it has now repaid two thirds of loans – totalling €33m – that could possibly be affected by the Russian invasion of Ukraine.

Learn extra: PeerBerry launches crowdfunding product after busy January

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