Last weekend Lenndy’s revised website went live. Further to a new design (which I like and is better to read then before) some process and handling changes were implemented
1) The sites performance and speed was increased
2) Interest starts to accrue after bid, not on completion of the loan
3) Now we can filter the marketplace and our portfolio
4) A lean account statement is available
5) More stats are available
There is more to come
SEPA payments will be live from mid October, so we can send money directly to Lenndy. We can save us the detour through paysera. If we are lucky we should get an autoinvest functionality until the end of 2017. If they then can manage to quit these daily emails for new projects, then I will be really happy.
Credital Verslui, a new loan originator
Simultaneously with the design update a new loan originator “Credital Verslui” has been introduced. Verslui offers business loans to lithunian businesses, which are operative for at least two years. Credital Verslui has been operating since 2016 and has offered more then 600 loans so far. Lenndy will only place loans on the marketplace which already paid at least two installements punctually. There are other due dilligence measures and we receive personal guarantees from Credital Verslui’s owners. What those guarantees are worth we will be finding out only in case where we need to rely on them. What I really like is the fact that Lenndy is in full control of the originators paysera account, where the repayments from the borrowers will be added directly from the borrowers. There is explicitly no buyback guarantee involved with these loans. Buyback is offered at the moment for some invoice financing and car loans (not originated from Credital Verslui, you can see if there is a buyback guarantee when you check out the project and click on collateral).
This is it for the moment, as anytime if there are some questions, just post them here.