Lenndy is a peer-to-peer lending marketplace, where investors can invest in loans by buying out prior issued loan rights. Using the platform operators‘ technological solutions, non-banking loan administrators have the option to transfer rights of claim arising from any credit agreement. This solution is for individuals or businesses who are registered on the platform and it allows investors to invest in already issued loans. More information about Lenndy business model is available here.
Lenndy - online loan market (eng. “lending marketplace“), focused on the sale of already issued loans. People have the opportunity to redeem already committed loan rights and earn 12-15% interest. All loans that are uploaded to Lenndy system are already issued by administrators and are time tested. Doubtful risk loans are not included into the Lenndy platform due to a strict Lenndy policy.
Investors can select among many loans issued by loan originators. Currently, our loan originators issue secured car loans, mortgage loans, invoice factoring and other business or personal loans. Most of the loans have pledged collateral and buyback guarantee provided by respective loan originators.
Registration in the platform as the investment is a completely free service. By investing in business loans, users do not pay any fees to the platform operator.
Yes. www.lenndy.com page is protected by SSL (Secure Sockets Layer) protocol. SSL is a standard, globally recognized security technology used by millions of websites, including banks for the security of their customers. Lenndy team also performs regular third-party audit of safety standards, therefore all money transactions are protected.
Loan originator‘s buyback guarantee is one of the key advantages for Lenndy investors, which means that loan originator buys back outstanding loan amount with interest from investors when borrower fails to pay for 60 days. Buyback guarantee is valid for loans with buyback icon.
Lenndy partners - loan operators that provide people with loans of different forms to individuals and entities at Lenndy. Partners in Lenndy platform sell their loan portfolios and transfer loans to registered investors. You can get acquainted with Lenndy partners in section partners.
There is a Live graphics function at Lenndy, which allows your investment to start gaining interest rates at the same time of investment. The money is safely transferred to Loan Originator at the same time and it counts as a successful sale of a loan’s claim right. Lenndy investors can be assured that there are no chances that their investment will be rejected. If the loan fails to be fully funded, it is closed at the end of its term and your money is employed.
Both individuals and entities can invest through Lenndy. Individual investors must be at least 18 years old and have an active Paysera account with III or IV identification Level. Businesses can invest at Lenndy after the owner or the authorized person reaches Level III or Level IV at Paysera bank.
The investor registers to the platform.
2. Verifies the e-mail address.
3. Registers with the online bank „PAYSERA“ system and carry out the transfer to the platform account, this way confirming his identity.
4. The investor gets acquainted with submitted business loans on the platform.
5. Invests in selected business loan;
6. The investor can see all the information about the loans and contributions that are displayed in his account.
repayment conditions; obligations of all parties; pledged assets and other guarantors (e.g. personal guarantee); cases and sanctions of delays in the payment of contributions;
Investors are able to see a certain amount of information about borrowers on our marketplace including amount, term and purpose. In order to maintain security and comply with data protection legislations, we do not reveal the full names or addresses of borrowers.
Loans are issued to borrowers for different purposes including working capital loans for businesses, vehicle lease, invoice financing and many other reasons. The purpose of the loan is always stated in each listing and is dependent on the borrower and loan originator.
Lenndy platform is extremely focused on loan evaluation. It is important to mention that the borrower's loan assessment is performed by Lenndy partner who issues the loan. Loans at Lenndy platform are uploaded only after it was evaluated and issued by the loan operator.
There is a feature that enables investors to sell their investments. On the right side of every current loan in your portfolio there is a “Sell” button that allows investors to sell their investments for 5% fixed fee. For example, if the outstanding amount of the loan you are selling is 100 EUR, then your fee will be 5 EUR.
When investing funds, you should be prepared to hold the investment through to its maturity date. However, Lenndy offers a secondary market that may provide liquidity in certain circumstances. Lenndy, as a market maker, may also buy back an investment by entering into a mutual agreement with you.
Also, keep in mind that sometimes you might receive monthly principal and interest payments, which will reduce your investment in a respective loan over time.
Lenndy operator has established processes to deal with late payments. For example, all loans with buyback guarantee are covered by the loan originator if they are late more than 60 days. On the other hand, Lenndy tolerates up to 15 days delays for invoice financing loans as this kind of loans have a tendency to have postponed payments for various reasons (transaction errors, international payments, accounting, etc.). For this period investors receive normal interest for each additional day. For any payments that are late for over 90 days, credit agreement is terminated and is given to the loan collection agency for recovery.
There are two types of loans - 1) secured loans with collateral and 2) unsecured loans without any collateral. For secured loans collateral may be real estate in the case of a mortgage loan, a vehicle in the case of a car loan or equipment in the case of a business loan as well as many other types of collateral as indicated at the description of each loan.
Ownership rights over collateral are always registered in the name of the loan originator. Loan originator has at least 5% of claim rights of the underlying loan and has the responsibility to oversee the pledge in the interest of the investor.
Loans at Lenndy have different safeguards depending on the type of the loan. More information about them can be found at the description of every loan. Some of the loans are secured by originator’s buyback guarantee. More information about buyback guarantee can be found here. IMPORTANT: Your investments are not covered by deposit insurance, therefore, please take some time to fully understand related risks and evaluate your financial objectives.
In the unlikely event of Lenndy insolvency, investors will be given full information from the Lenndy database on the transactions they have concluded within the framework of the marketplace. The Lenndy bankrupt administrator will take all necessary actions to transfer the servicing of all loans and investments to an appropriate manager.
In the unlikely event that a loan originator goes out of business, we have put in place arrangements to ensure that investors continue to receive payments on the loans in which they have invested through the Lenndy marketplace.
When you invest in a loan, you are buying claim rights against the borrower based on an assignment agreement. Borrowers make payments on their loans to the respective loan originator, and in turn, the loan originator and Lenndy distribute payments to investors. In the event that a loan originator fails or becomes insolvent, assignment agreements would remain in place and be unaffected.
As per the assignment agreement and cooperation agreement with Lenndy, in the event of insolvency of the loan originator, Lenndy as a proxy of the assignee, would take over the management of the claim from the loan originator and recall authorization of the assignee to the loan originator. After having taken over the management of the claim from the loan originator, Lenndy would be entitled to transfer the management of the claim to any third party at Lenndy’s discretion. This means that Lenndy as a proxy of the assignee would inform the borrower on the assignment and direct continued payments to Lenndy or any third party at Lenndy discretion.
Paysera is an international e-bank that allows you to make safe and fast transfers between any other bank in the world. If you’d like to send the money back to your traditional bank account – just log in to Your personal Paysera account and send your money to any another bank account. At Lenndy you can only see the numbers from Your personal Paysera account, so all withdrawals can be done only by Paysera.