creditshelf achieved double-digit growth rates in 2020 — Corona was not a brake on growth
In the past year, creditshelf again achieved double-digit growth rates. The renewed tightening of the corona regulations did not have a negative impact on the positive business development of the Frankfurt SME financier.
creditshelf, the leading credit platform for digital SME finance in Germany, has grown double-digit in 2020 despite the Corona pandemic. The development of creditshelf’s loan business is reflected in the following numbers:
Highlights:
- The requested loans in the amount of EUR 1,528.2 million were EUR 188 million above the volume of inquiries in the previous year and underline the growing need among German SMEs for fast, uncomplicated financing solutions.
- In 2020, creditshelf increased the arranged credit volume with a balanced mix of new and existing customers by 12% to EUR 98.9 million.
- The outstanding loan volume grew significantly and stood at EUR 123 million as of December 31, 2020 (December 31, 2019: EUR 88 million).
- The average loan term decreased to 26.8 months in 2020 (2019: 27.7 months) and underlines a balanced risk positioning.
- The average interest rate on the arranged loans was 8.8% in 2020 (2019: 8.3%).
Dr. Tim Thabe, Chief Executive Officer of creditshelf, comments:
“The ongoing corona pandemic continues to pose major challenges for entrepreneurs. We are proud that we were able to support our customers with our financing offer in 2020. So we were able to continue our growth in this special year. We did not have any significant loan defaults in the 4th quarter either, although the situation has worsened again due to the renewed lockdown for the German economy. This resilience of our portfolio demonstrates the high quality of our sales model and our risk analysis. That is the prerequisite for the success of our institutional funding strategy. “
Creditshelf will publish the full 2020 annual report on March 30, 2021.
We reported recently about one creditshelf project here: https://frankfurtvalley.app/2020/10/29/gridscale-is-accelerating-the-further-expansion-and-receiving-additional-capital-from-creditshelf/
