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One of the methods by which the originators control the risk, is using a credit rate score system. This is a procedure of classifying every credit in different categories, based on the default probability (the probability the borrower to stop paying off their loan). All loans in iuvo have a score rate. This is needed so the credits from different originators can be compared
- AScore class A
The total amount of the loans granted by the loan originator to borrowers since its establishment
The total amount of the loans issued on the marketplace by the loan originator
In business and financing, the term “skin in the game” is used to refer to owners or principals having a significant stake in an investment vehicle, in which outside investors are solicited to invest. This is to ensure the interests of the originator and the investor in the asset are aligned, as both have a stake in the asset/ investment. On iuvo this means that every loan originator is required to keep certain percentage of each loan listed on the marketplace, which is their “skin in the game”. For example, if a loan originator issues 100 EUR loan to the marketplace and have skin in the game 30%, only 70 EUR of the loan will be available for investors to invest in. The loan originator keeps a stake of 30 EUR.
The year in which the company became profitable
About
Mi Prestamo is a young and ambitious company, operating in Spain.
The company gives their customers the possibility to apply for a loan online at any time of the day, 24/7, to get financing between €300 и €2000 in a fast and easy way. The customers of Mi Prestamo also have the possibility to choose the period of the loan and the frequency of installment repayment by themselves.
Mi Prestamo is part of Management Financial Group (MFG).
"Mi Prestamo is a company focused in growth. The convenience we provide to our customers to apply for a loan 24/7 in a fast and easy way allows us this.
Our decision to collaborate with iuvo is motivated by the fact it is among the most recognizable P2P platforms in Europe and we firmly believe that it wil significantly contribute to the acceleration of our growth. Together, we share the culture of MFG and we are happy that we have the opportunity to be an example for a successful partnership between companies in the Group."
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