Monthly origination summary – August 2016

Building on the record month of originations in July, in August, we saw originations grow in 2 countries (Estonia and Spain). We saw another record month of originations at €2,782,475, topping July’s record of 2.28 million Euro. That’s a 21.5% increase month over month. The loan origination summary for the month of August is detailed below.

Loan origination by country

Estonia is still in the lead with a 56% share of all new originations. Spain is growing in originations at a solid 25% share of new originations while Finland is an 18% share of new originations for the month.

Loan origination by grade

We are seeing good distribution across the countries and across the loan grades too. Last month, the only country where you could get A and AA loans is Estonia, which has the most loans issued overall. A and AA are a pretty small share of 0.93% and 1.96% shares of all loans issued. That’s less than 3% combined. B grade loans are just under 9% share of all loans from Estonia and Finland.

• Estonia’s originations are primarily in the C-E grades making up 32% of all loans. Interest rates in Estonia and Finland for B-D grade loans are consistent in the mid teens to the high twenties. E and F grade loan interest in Estonia range from 31.71% up to 42.39%.
• Finland’s originations are primarily in the D-F grades making up ~13% of all loans. Rates are slightly higher in Finland for comparable grade loans compared to Estonia. The rate for B grade loans in Finland is 18.92% up to 39.64% for F grade loans (slightly higher than Estonia’s 38.10% for F grade loans).
• Spain’s originations are primarily in the higher interest grades of E, F and HR. Rates in Spain for all 3 grades are higher than the other 2 countries with rates of 36.28%, 42.39% and 63.10%. Spain has the highest amount of HR loans with a 21% share of all loans, while HR makes up a 27% share of all new loans originated in August.