Lendico is committed to increase activities in its core markets and plans to expand the product into SME loans. In Spain, Poland and South Africa the quality of loan requests did not meet Lendico’s expectation. In Spain for example only 2% of all loan request were approved. As a result, Lendico will no longer provide loans from these countries to retail investors and only fund them via institutional investors. This also means that the cross-border lending in Spanish loans that was available to German investors on the German platform will cease to be offered. Lendico will also centralise more activities in the Berlin bureau.
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