Estonian p2p lending service Isepankur announced today that it now offers p2p loans to borrowers from Finland. Isepankur already opened to lenders from multiple markets last year. Now Isepankur adds Finland as the first foreign market executing the expansion strategy on the borrower side.
Here is an excerpt of the announcement made today:
We have taken the next step towards building a pan-European credit platform so you could continue enjoying a great return on your money. We have now also started accepting loan applications from Finnish residents side-by-side with existing Estonian borrowers. We will offer one of the best rates in the market whilst trying to deliver a great return to our international and local investors all in one single platform.
Finnish market offers an opportunity to diversify your portfolio and better manager your returns. Here are some key facts about Finland which you might not have known:
Population: 5.4 million; 67% live in towns or urban areas, 33% in rural areas
Monthly wages: average 3,040 €; men 3,352 €, women 2,735 € (2010)
Internet users: 85,3% of the population internet (ITU, June,2010)
A number of payday loan providers has grown rapidly in recent years pushing up the interest rates up to 50% per annum. Lack of competition in the consumer lending and banking market means that even low risk customers typically pay above 20% per annum.
Situated: Northern Europe, neighbouring Sweden, Norway, Estonia and Russia
We believe that there is a big potential for isePankur on the Finnish market as most of the competition consists of unethical and unsustainable loan providers. We are sure that investors will find new attractive investments opportunities with solid returns. Please be aware that it might take a couple of weeks for the Finnish investment opportunities to appear on the market. We will soon also allow you to add market-specific configurations to your investment profiles.