Capitalia has over EUR 3 million of loans to businesses

During the year 2015 Capitalia has issued over 3 million of loans to small and medium sized businesses in the Baltic States. The financing offered by the company was used by 237 companies. Average issued loan amount to one company was EUR 9 000 while average term was 12 months. Most business loans were issued to companies in retail and manufacturing industries. Notably, most of the clients have been companies from the regions.

“Over the course of the last year Capitalia has introduced a number of new business financing products aimed at small and medium sized businesses. Our invoice purchasing and line of credit offer has already gained large popularity among the clients. We have also enjoyed successful cooperation with state institution Altum in Latvia by issuing 84 loans to businesses with subsidized terms. Also in 2016 we are planning to actively increase our issued loan volume by attracting venture capital and commercial bank financing. Our aim is to double the number and amount of loans issued. We have also made all of the necessary preparatory tasks to start working in Estonian market, where companies display similar interest in alternative financing sources to commercial bank loans,” explains manager of Capitalia Juris Grišins.

Capitalia has also noticed that clients are increasingly showing their interest and appreciation for services offered by non-bank finance and financial technology companies like Capitalia, Mintos, Monea and others. Similar to the tendencies in the rest of the world, also in the Baltic States the role of traditional banks in the financial ecosystem continues to diminish giving way for new non-bank finance companies.

During the last year Capitalia business loans has been used by such companies as Erenpreiss Original (bicycle manufacturing), Take-a-Look (optics retail), Valtera Restorāns (restaurant) and many others. Interestingly, the benefits of Capitalia financing have been noticed also by a number of municipality owned companies that have become active users of various financing products offered by the company.

Published by at. 15:47