PeerBerry originator Litelektra, the Lithuania-based green energy company, has repaid a €1m (£857,000) loan and paid out €98,974 in interest to investors.
Litelektra joined PeerBerry’s peer-to-peer lending marketplace in December 2021, offering six-month renewable energy business loans with a 10 per cent annual return for investors.
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The company produces solar and wind energy, and has electricity supply agreements with state-owned companies. Companies purchase energy from Litelektra at an agreed price from one to three years, ensuring stable cash flows.
The latest repayment follows PeerBerry’s announcement in February that Litelektra had repaid a €300,000 loan to investors, with €15,593 in interest.
Litelektra’s loans are secured by a buyback guarantee and a Gofingo Group guarantee.
Gofingo Group is one of PeerBerry’s main partners and has signed additional guarantee agreements with loan originators such as Litelektra. If the originator becomes insolvent, other Gofingo Group companies will cover all the liabilities to protect investors’ funds.
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