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One Year Anniversary of SME Lending Ferratum Group Press Release Helsinki, 7 July 2016 FOR IMMEDIATE RELEASE FERRATUM CELEBRATES THE FIRST YEAR ANNIVERSARY OF ITS BUSINESS LOANS After last year’s successful launch of its SME (small and medium-sized enterprises) lending in Finland and Sweden, Ferratum has been able to introduce the product in three additional countries during 2016. The introduction of SME lending in Lithuania, Denmark and the Netherlands helps growth of the new division and further diversification of the Ferratum Group product portfolio. Jorma Jokela, founder and CEO of Ferratum, says of the recent developments: “It is very satisfying to see the continuous expansion of Ferratum Business during the first year of its existence. With the recent acquisition of FCB Firmen-Credit Bank in Germany, we will establish a second EU credit institution in addition to FerratumBank in Malta. It will in the future serve as a hub for our international lending activities for small and medium-sized companies in Europe, and further grow our business with SME loans. We are planning to launch Ferratum Business in additional countries by the end of the year.” Ferratum Business is targeted to small and medium-sized enterprises with a strong track record. Loans range from 2,000 to 50,000 EUR and have a maturity of six to twelve months. “Our product is targeted to small businesses with revenues in between 75,000 to one million EUR. This segment is the most neglected by conventional banks, despite the fact that they make up the biggest share of business in most countries”, Scott Donnelly, Director of Business Lending at Ferratum Group, explains. Business Loans are obtainable by means of a simple and short application process taking only five minutes. They are paid out within one day of a completed application and without collateral requirements. “Using our streamlined application process and experience with fast decision algorithms, we are able to offer a level of convenience and speed that cannot be matched by traditional business financing options”, Donnelly continues.
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