Lending company Mintos repays loans during platform verification

A Mintos lending company in Belarus returned funds owed to investors to the platform.

The alternative credit market had begun to limit investor credit exposure to Belarus after the country supported Russia’s invasion of Ukraine.

Mintos said it is excluding loans from Belarus from the primary market and is pausing new borrowing from the country until further notice.

Existing loans from Belarus will remain in Mintos strategies, so it will be possible to withdraw these loans, and the platform’s secondary market will remain open for Belarusian loans.

Continue reading: Mintos investors can donate to Ukrainians through the platform

The platform shared this week in an update that lending company Eleving Belarus has transferred all funds due to Mintos.

“This is still possible, as Belarusian banks are not prohibited from transferring euros to accounts abroad,” Mintos said.

The update also revealed that both Mintos and lending companies from Russia are still working on finding ways for alternative and sanctions-compliant channels for transferring borrowers’ repayments.

Last week it was revealed that Mintos is facing a 15 percent drop in revenue at its lending companies due to the impact of the war in Ukraine.

Still, the European credit market said it was “confident of weathering the storm” with its available cash balance.

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