July was a solid month on our platform and our investors financed a total of 70 projects (€14,3M).
Like previous months, Estonia and Germany were our top-performing markets where good results are expected to continue as we have hired new loan managers in these countries.
A total of €8,7M worth of loans were repaid during July with an average return of 10,9%.
In July the default rate decreased as we recovered one Finnish project (bankrupt estate case) and one Latvian case for a total principal amount of €0,9M. Since our last portfolio overview, one loan in Estonia has gone into default, which was the second stage of an already defaulted project (€0,4M).
We will keep you informed about the credit portfolio quality on a monthly basis.