DGAP-News creditshelf: Growth continued in Q3
DGAP-News: creditshelf Aktiengesellschaft / Key word(s): 9 Month figures
CREDITSHELF - GROWTH CONTINUED IN Q3
Frankfurt am Main, October 08, 2020 ‒ creditshelf, the leading credit platform for digital SME finance in Germany, grew sustainably in Q3 2020 amidst the ongoing corona pandemic. The development of creditshelf's loan business is reflected in the following numbers:
- At EUR 24.7 million, the arranged loan volume in Q3 2020 was 55% above the prior-year quarter (Q3 2019: EUR 15.9 million).
- While maintaining strict risk standards adapted to the current situation, the arranged loan volume in the first nine months of 2020 amounted to EUR 70.3 million (Q3 2019: EUR 51.7 million).
- As the leading credit platform serving German SMEs, creditshelf arranged a total accumulated loan volume of EUR 261.1 million between its launch in 2015 and September 30, 2020.
- At EUR 1,248.9 million, the volume of requested loans was 32% higher than in the first nine months of 2019 (EUR 944.5 million).
- The average term of arranged loans decreased to 25.7 months in the first 9 months of 2020 (9M 2019: 28.1 months), reflecting a conscious risk exposure positioning.
- The outstanding volume of loans still being paid back was EUR 112 million as of September 30, 2020 (September 30, 2019: EUR 67 million).
Dr. Tim Thabe, CEO of creditshelf, stated:
"Especially in the current situation, SMEs need quickly obtainable, flexible financing solutions. Over the summer months, we were able to welcome new business partners and numerous new customers. At the same time, our platform features satisfied returning customers, for whom we are a reliable partner. In addition to our continuously improved risk analysis software based on current financial data, solid customer and sales relationships are the basis for sustainable growth."