PeerBerry dedicates another €1m to repay war-affected loans

5 months, 1 week ago - April 25, 2022
PeerBerry dedicates another €1m to repay war-affected loans
PeerBerry will dedicate an additional €1m (£830,000) to repay a part of war-affected short-term loans this month, the company has said.

This will bring up the total amount of repaid war-affected loans in April to €2.79m, significantly higher than the €1.3m that was originally planned.

Since the start of the war in Ukraine, the European lending marketplace said that its business partners have repaid a total of €11.49m of loans.

It said all the interest rates accrued on the war-affected loans will be paid at the very end of the repayment. Interest rates on short-term loans will be calculated for the initial loan term plus 60 days of the delay; and for long-term loans they will be calculated for the term until the nearest scheduled payment after suspension on 15 March, plus 30 days.

The announcement comes after the group used €1.2m of its profits/reserves to make partial repayments of Ukrainian and Russian short-term loans at the beginning of April.

In March, the group set up a dedicated webpage for war-affected loans, and said its lending companies Aventus Group and Gofingo Group expected to repay all investments in Ukrainian and Russian loans within 24 months.

In this week’s update, PeerBerry said the war-affected loans would be gradually paid monthly, not quarterly as planned previously.

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