20 April 2022

PeerBerry partners dedicate an additional EUR 1 million to repay war-affected short-term loans this month

PeerBerry business partners decided to dedicate an additional EUR 1 million to repay a part of war-affected short-term loans this month. The total amount of repaid war-affected loans in April will be EUR 2,79 million (significantly more than the planned amount of EUR 1,3 million at the beginning of the month).

Additional EUR 1 million will be used to make partial repayments on war-affected short-term loans by following the proportionality method. All the interest rates accrued on the war-affected loans will be paid at the very end of the repayment. I.e., invested funds will be gradually repaid, and after all the invested principal amount is repaid, the accrued interest repayment will follow.

The schedule of repayments on war-affected loans in April:

• On April 21, EUR 1 million is dedicated to repaying war-affected short-term loans.
• On April 19-20, the total amount of EUR 436 855 was used to cover a part of Ukrainian long-term obligations (EUR 265 531 was used to cover part of Slon Credit UA obligations, EUR 171 324 was used to repay a part of AutoMoney UA loans).
• On April 13, EUR 150 000 was used to process a partial repayment on Aventus Group real estate loan and Gofingo Group business loan.
• On April 6, EUR 1,2 million of the Group’s profits/reserves have been used to make partial repayments of Ukrainian and Russian short-term loans.

From the start of the war (during March and April), PeerBerry business partners repaid EUR 11,49 million of war-affected loans.

Important to know about war-affected loans repayments

• Aventus Group and Gofingo Group will gradually repay war-affected loans monthly (not quarterly as planned at the beginning of the war).
• AutoMoney UA and Slon Credit UA loans in the coming months will be repaid under the initial loan schedule. Keep in mind, that only the principal amount will be repaid under the loan schedule as the accrued interest rate will be repaid at the very end of the schedule.
• Aventus Group real estate loan and Gofingo Group business loan will be gradually repaid monthly under the war-affected loans repayment plan following the proportionality method.
• Ukrainian and Russian short-term loans will be gradually repaid monthly under the war-affected loans repayment plan following the proportionality method.
• The proportionality method means that during each partial repayment of war-affected loans, each investor receives a certain share of their investments. The higher the amount of investments in UA/RU loans, the higher the amount of the repayment. The aim is to gradually repay part of UA/RU investments to all investors.
• All the interest rates accrued for the war-affected loans will be paid at the very end of the repayment. I.e., invested funds will be gradually repaid, and after all the invested principal amount is repaid, the accrued interest repayment will follow.
• We want to remind you that interest rates on war-affected loans will be calculated for a limited period. Interest rates for short-term loans will be calculated for the initial loan term plus 60 days of the delay (after 60 days, no interest will be accrued/paid). Interest rates for long-term loans will be calculated for the term till the nearest scheduled payment (under the loan schedule) after suspension (March 15) plus 30 days.
• If the business in Russia continues to keep a positive development trend, the RUB exchange rate will stabilize, and there will be normal conditions to convert RUB to EUR, Aventus Group may consider a compensation mechanism of interest rates for delays longer than 60 days.
• Until no transfers of funds are available from the Ukrainian and Russian markets, PeerBerry’s business partners will use a part of its profits to gradually repay war-affected loans.
• The conservatively planned repayment period to repay war-affected loans is 24 months. After transfers of funds from Russia and Ukraine are possible and depending on the overall Group’s profitability, this period may decrease.