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Alternative lenders are on cloud nine: they already noticed the increase in clients

2020-04-06

As the banks are promising to credit 'responsibly' during covid conditions, alternative lenders already notice higher demand and say that the upcoming period will be busy.

'Soon we will introduce a new RE project for financing, and it is expected that we additionally will have two or three new ones this week. We noticed, that the number of new requests for financing increased, therefore, there should be more projects released on the platform' - said Viktorija Vanage, the founder and executive of Profitus platform at the online event for investors. She noticed, that not too long ago the algorithm of loan financing was slightly improved to help to choose only the most qualitative projects.

According to V. Vanage, crowdfunding platforms, such as Profitus during such challenging times can help to finance RE developers and other businesses.

'Such platforms, like ours, emerged after the 2008 crisis. It was the consequence of the crisis' - claims V. Vanage.

She also adds that the interest of investors in RE projects is not going away.

'Just on Tuesday, we introduced a project in Kaunas with 8% of annual interest for financing. This project was financed in 3 hours. On Wednesday we introduced another project, lofts in Kaunas with 7% of annual interest, the project was financed rapidly - just in 2 hours. We notice that our platform continues to work intensely. There are lots of money in the market, it is expected, that people will look where to put them safely' - says V. Vanage.

She considers as governments urge economic growth, and inflation wave will rise, therefore, in such light RE will seem quite attractive and the investment safety will be granted by real estate mortgages.

'For example, last year's value of mortgaged property and loan ratio on our platform was 51%. It is the safety net if we needed to acquire mortgage rights with the help of court' - notices V. Vanage

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