We are excited to welcome another new loan originator to our Bondster platform. The Polish company Speed Cash was established in 2013 and since then it has issued over 4000 loans to natural persons, most of whom were entrepreneurs. Its services in Poland are already being actively offered by approximately 800 agents, resulting in about 50% year-over-year growth in the company´s sales. The biggest difference when compared to other foreign platforms is that Speed Cash only issues loans which are secured by real estate while aiming to keep their LTV at about 50% long-term.
The Polish originator is going to offer its loans on Bondster also with a buyback guarantee. The combination of loans secured by real estate and a buyback guarantee makes the investment opportunity especially appealing to all more conservative-oriented investors. Until now we have only had loans on Bondster either with a buyback (mainly those denominated in EUR) or loans secured by real estate (mainly those denominated in CZK). From this viewpoint, Speed Cash complements the ranks of our loan originators with a veryinteresting product. The loans on Bondster will be offered in EUR with interest starting at 9% p.a..
Speed Cash was founded by professionals with 15 years of experience in the finance industry. An interesting fact is that the management holds over 30% of the company´s share. In 2018, the company, which operates throughout Poland, held real estate worth almost CZK 1.8 billion and was employing 30 people. In the next few years, Speed Cash aims to increase the number of its agents to 2000, develop its own CRM system and open branches in Polish Lodz, Poznan, Lublin, Wroclaw, Katowice and the Tri-city of Gdansk, Gdynia and Sopot.
Autor: Jan Schönbauer