30 August 2023

Aventus Group fully covers EUR 35.13M in war-affected short-term obligations, including accumulated interest

Aventus Group is about to fully cover its war-affected short-term obligations towards PeerBerry investors, including accumulated interest totaling EUR 35.13 million. The final repayment of Aventus Group war-affected short-term obligations will be processed on September 5.

On September 5, PeerBerry will process the last repayment of EUR 1.28 million to fully close Aventus Group war-affected short-term loans: EUR 637 630 of the remaining war-affected short-term principal amount plus EUR 641 439 of accumulated interest will be repaid to PeerBerry investors. Aventus Group covers its war-affected short-term obligations 6 months earlier than was planned at the beginning of the war.

After the final repayment of war-affected short-term obligations (including accumulated interest) and already repaid war-affected long-term loans, the total war-affected amount repaid by Aventus Group will be EUR 39.93 million. The remaining amount of Aventus Group war-affected long-term obligations currently is EUR 1.17 million; the already repaid amount is EUR 3.8 million. War-affected long-term loans are being repaid every month under the initial loan schedules.

At the beginning of the war, the total war-affected obligations of the Aventus Group amounted to EUR 40.46 million (without interest).

“Considering the share of our business and the amount that went into the fire of war, such a hit would simply have killed many similar companies I know of. Within 14 years of our operations, we developed a large, successful, and diversified business. Responsibility in our decisions and conservative borrowing policy were key during the pandemic and the most significant turbulence in our business history – war. At Aventus Group, we never give up. We strive for the best result even in the most challenging conditions, and we fulfill our obligations not by words but by action. It makes us stand out in the competition. Today, we are the only business on the market that repaid such a large war-affected amount in a relatively short period compared to other war-affected companies. I want to thank our investors for their long-term partnership and trust in us during good and turbulent times “, – says Andrejus Trofimovas, CEO of Aventus Group.

“The war once again highlighted the importance of diversification in business. Over the past year, we focused a lot on both increasing business efficiency in countries where we have strong positions and increasing diversification by expanding in new countries. This year, we started more actively developing our business in Sri Lanka, India, and Kenya. We began issuing loans in Spain and Mexico and continue actively analyzing business opportunities in other countries to diversify our business further. I know that the investors expect us to provide larger volumes of loans to the PeerBerry platform; however, we are a responsible business, and we want to keep our business sustainable – we borrow only part of the funds for our business development. Growing new businesses to maturity level is not a quick process. Considering our business needs to borrow, the volumes of loans issued by our companies should grow moderately on the PeerBerry platform “, – says Andrejus Trofimovas.

Adjustments in interest rates from September 5

A slight decrease in interest rates for investing in some loans on the PeerBerry platform is planned from September 5. The adjustments in interest rates are based on the group of companies’ profitability and/or limited need to borrow.

Please note the highest (12%) and the lowest (9%) margin of interest rates considering your investment strategy. Also, please remember that the availability of loans with the highest interest rate is limited. Find out more about adjusted interest rates applicable from September 5 here.

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Gofingo Group will continue covering its war-affected obligations in the middle of each month. The remaining amount of Gofingo Group war-affected loans currently is EUR 4.18 million. The already repaid war-affected obligations amount to EUR 5.99 million.