Hoovi, an Estonian SME lender, is introducing another new type of loan under the “short-term” category on Income. Hoovi will now list its credit lines on the platform for investors to invest in. Here’s a summary of the loan type:
Loan type: Short-term loan
Junior Share: 29%
Expected Maturity: 6 to 60 months
Loan size: up to € 20K
Every time a borrower withdraws from the credit line, Hoovi will buy it back. After the loan is bought back, Hoovi will list the credit line on the platform as a new loan with a new outstanding balance.
If you want to invest in these loans and already have Hoovi in your portfolio, don’t forget to adjust your auto-invest strategies to include the “short-term 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.
