In a press release today the Danish Ministry of Business Affairs and Growth (Erhvervs- og vækstministeriet) announced an agreement between the partners behind Growth Plan DK (Vækstplan DK), to launch a new loan system for entrepreneurs, ahead of schedule.
We heard about Vækstplan DK back in April, and the news now is that the ‘Vækstlån til iværksættere’, designed to improve access to finance for entrepreneurs who have a financing gap of 2 million DKK (€270,000), planned for 2015, will be available much sooner. The Government, Left, Liberal Alliance and the Conservative Parties have agreed to launch the scheme this year.
Has the peer lending revolution finally started taking off in Europe? IsePankur, the Estonian based peer to peer lending network has announced last year that they started to allow anyone within the EU to invest on the platform, however it was still only the Estonians who could actually look for a loan. Recently, however they opened up the platform to Finnish residents.
This means that now anyone in Finland can request a loan using Isepankur.fi and many are doing just that. In the first 9 weeks of operations, IsePankur reported 13 million euro of loan applications in Finland. Combined with Estonia, they are now hitting over €800 000 of issued loans monthly. The month of September, for example, reached €859 500 and IsePankur reports a 20% month to month growth of this figure.
IsePankur, the Estonian peer-to-peer lending site, has now opened their platform so that anyone in the EU, can invest in Estonian private loans.
“We have worked for nearly two years to establish a legal and operational framework that allows anyone across the world to invest on isePankur," said Pärtel Tomberg CEO of isePankur. "This international diversification is unique to us compared to other peer-to-peer lending services as it allows investors to benefit from the different interest rates across the Eurozone. Additionally this will be the first time that private investors can invest directly in Estonia without committing large amounts of money”.