Loan GRP-1710 - Business Loan
Buy Back guarantee in case of borrower's payments delay for more than 15 days.
The loan has been issued by Latvian company to a Russian credit company. This company is a legal entity, affiliated with an existing credit company and was established within the implementation of the plans for geographic expansion of the market of provision of microcredit services for individuals and offering consumers a new improved product in the market of St. Petersburg and Leningrad region and, further out, in other regions. For these purposes, a separate brand was developed and promoted in the market.
The loan has been issued within the framework of General Contract for the provision of funding. Loan currency is euro.
For each loan in favor of the lender, the credit company provides a collateral consisting of debt claims, totaling of 200% of the loan principal. In case of default of the borrower, it will pass to a specially created SPV (Special Powered Vehicle) - processing company located in Russia that has a right of direct claims to the borrowers.
To provide financial controlling, a Grupeer Platform representative has been included in the board of the processing company. All debt claims pledged to secure the loan have been individually inspected and are of good quality.