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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 receivables granted by the originator to users since its establishment
The total amount of the receivables issued on the marketplace by the originator
In business and financе, the term “skin in the game” is used to refer to owners or directors having a significant stake in a receivable, in which outside users are solicited to purchase. This is to ensure the involvement of the originator and the user in the receivable are aligned, as both have a stake in the receivable. On iuvo this means that every loan originator is required to keep certain percentage of each receivable listed on the marketplace, which is their “skin in the game”. For example, if a loan originator issues 100 EUR loan, lists the receivable on the marketplace and have skin in the game 30%, only 70 EUR of the receivable will be available for users to purchase. 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 and €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 portals 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."
Become part of one of the fastest growing p2p purchasing of receivables marketplaces in Europe