Posted by Lendermarket has added a new lender to its marketplace in the form of French company Aiffin Drive SASU. The company finances vehicle leasing for micro-businesses and self-employed individuals in France, including passenger transport operators, delivery businesses, tradespeople and small commercial fleets.
The loans are offered with interest rates between 11% to 15%, with terms ranging from 30 to 1,800 days. According to the company, €3.9 million had been financed through more than 110 lease agreements by early September.
The loans are secured by the vehicles themselves, which remain the property of Aiffin throughout the entire term. In the event of a default, a buyback obligation kicks in after 60 days, covering the outstanding principal plus accrued interest.
Unlike the most recent additions, financial figures are not yet available, and there is also no information on equity or profitability. Without these figures, it is impossible to assess whether the buyback obligation would hold up in the event of a default.