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(EN) P2P-Banking: Heavyfinance launches platform for loans backed by heavy machinery

2020-10-29

Heavyfinance has launched a platform for loans backed by heavy machinery, the first of this kind in the p2p environment as far as it is known. CEO and co-founder Laimonas Noreika told P2P-Banking how the new crowdfunding platform solves farmers’ problems while looking for the loan: “First of all, every farmer, lumberjack and construction company has some heavy-duty vehicles that usually are not taken into account when traditional financial institutions evaluate their risk level. Consequently, those small and medium businesses cannot get loans, even though they have many assets to use as collateral in case of a default.”

Read more about HeavyFinance and what this crowdfunding platform offers for its investors here.

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