We want to inform you, that the largest project in Lenndys' history was repaid successfully. Together with the interest and late interest, almost 1 million euros was paid to the investors. Investors earned over 152k euros of interest.
It was quite a complicated real estate loan, that was usually late for the last months. We were receiving a lot of questions, of what is going to happen, when will the money be repaid. That was not an easy project that required investors some patience, but loan originator First Finance together with Lenndy did a great job, from beginning till the end and got that loan recovered.
That would not have been possible without the great project evaluation at the beginning, this loan had a great LTV ratio of 45%. When the borrower started struggling with the project and loan payments, First Finance actively negotiated with the borrower, were working with the attorneys, constantly meeting with a potential new investors helping borrower to find a solution and refinance this loan.
We are happy that Lenndy and First Finance chose the right loan recovery tools that led to the fast results, letting us avoid long and complicated loan recovery processes through bailiff and auction.
We are continuing to do our best with the new project evaluation, recovery process, and other Lenndys' platform improvements.
Please let us know if you have any questions and we will do our best to help you!