Loan GRP-1900 - Business Loan
Buy Back guarantee in case of borrower's payments delay for more than 15 days.
The loan has been issued to a Latvian micro credit company NordCard for further expansion of consumer lending activities.
NordCard (brand name of SIA “Hedge Capital Company") is the first non-bank company in Latvia to offer service of “credit line”. Customers can take a loan up to Eur 3,000 for a period of up to 50 months. Despite the company's conservative lending approach, NordCard is showing solid year-on-year growth, its loan portfolio more than quadrupled in 2017 and it grew by 25% by the end of 2018. In near future, NordCard is planning to expand to Scandinavia.
Since establishment, NordCard received 77,800 applications. As a result of a prudent selection process, they currently have 3,500 active and reliable clients.
The loan portfolio as of December 2018 was Eur 2,300,000
Loan portfolio growth dynamics:
12.2016 – Eur 346,794.16
12.2017 – Eur 1,776,501.21
12.2018 – Eur 2,241,744.22