Sberbank introduces proprietary crowdlending platform
The new platform, named SberKredo, enables small businesses and micro-enterprises to get financing from individuals and institutional investors.
Russian bank Sberbank Rossii PAO (MCX:SBER) today announces the launch of SberKredo, a proprietary crowdlending platform which enables small businesses and micro-enterprises to get financing from individuals and institutional investors.
In order to sign up as a borrower one is required to be a user of Sberbank Business Online, a corporate internet banking solution. Companies will be checked and scored. Only the borrowers that pass these tests will have the right to attract investment for business development purposes in a short period of time and with no collateral.
Regarding investors, they get access to open source information about the companies that scored well, thus minimizing time to search for background information and assess risks.
The platform is operated by Sberbank’s subsidiary Lending Technologies LTD (Tekhnologii Kreditovaniya OOO).
Anatoly Popov, Deputy Chairman of Sberbank’s Executive Board, explained:
“Crowdlending is becoming more popular around the world. This is an efficient tool letting companies raise financing at early stages fast, while letting private investors get higher yield. SberKredo unites those who need funding and those who are ready to provide it. We’ve strived to make the platform as democratic and easy to use for individuals as possible. And that is why the lower investment limit is set at only RUB5,000, which is something anyone can afford, and is important in terms of risks diversification. On top of that, at early stages the investment ceiling for one company will be set at RUB20,000 to reduce risks. Shortly, we’re going to raise it to RUB1 mln.”
In order to join Sberbank’s crowdlending platform as an investor one is required to be a resident of Russia, have a Sberbank account and be over 25 years of age. In 2020, the platform is set to unlock a portfolio investment option that lets users break their investment into smaller amounts and spread it across a number of loans. Sberbank’s micro lending subsidiary OOO MKK Vydayushchiyesya Kredity might be among those who offer investment to borrowers.
Investors may invest in an unlimited number of projects lasting up to six months. This may yield up to 20% annually. Personal income tax will be levied on that.