Hoovi, an Estonian SME lender, is introducing a new type of loan under the “secured loans” category on Income. Hoovi’s secured loans will be secured by either a mortgage or a car. Here is a summary of the loan type:
Secured loans
- Junior Share: 10-17%
- Expected Maturity: 72 months
Hoovi’s mortgage or car-backed business loans offer a unique opportunity for investors to diversify their investment portfolios. With a Junior Share range of 10-17%, investors can benefit from a balanced risk profile while taking advantage of the stability provided by mortgage-backed securities. The expected maturity of 72 months ensures a predictable return on investment, making it an attractive option for those seeking long-term financial growth.
It is important to note that even though the loans are secured by tangible assets, neither the Income nor Income investors hold the collateral. Hoovi holds the collateral and will only have the right to claim it if the borrower defaults on the loan.
If you wish to invest in these loans and already have Hoovi in your portfolio, don’t forget to adjust your auto-invest strategies to include the “secured loans” in the parameters.
Stay tuned for more updates and insights on these new loan types. If you have any questions or would like to learn more, please don’t hesitate to contact our team.
