Find answers to the most common questions about P2P lending
Esketit platform is an investment platform, allowing private and institutional investors to invest in issued loans. The loans available for investment on the Platform are issued to private individuals all over the world.
The microfinancial companies issuing the loans are called Loan Originators and are using the funds raised on the Platform as working capital in order to expand their lending volumes.
Loan Originators (lenders) provide alternative financing to individuals and businesses and make the issued loans available for investors on the Esketit platform. The Esketit platform is an intermediary connecting investor, borrower, and Loan Originator via a custom investment platform and providing additional intermediary services. The Investor has a possibility based on the Assignment Agreement to purchase a claim right arising from the Loan Agreement and receive an interest following the terms and conditions of the Assignment Agreement.
Esketit is an online loan marketplace connecting investors, borrowers, and Loan Originators (lenders). The Investor has a possibility based on the Assignment Agreement to purchase a claim right arising from the Loan Agreement and receive an interest following the terms and conditions of the Assignment Agreement. Thanks to the technology that is proprietary to the Esketit platform, all funding and investments are performed online.
Esketit is an operator of an investing in loans platform. It provides the identification of investors; performs due diligence of Loan Originators; performs accounting of all investments, repayments of invested funds, and interest payments; performs debt collection within its powers and capabilities, as well as ensures all regulatory and legal requirements are maintained.
Esketit Platform Limited is registered in Ireland with legal address 77 Lower Camden Street Dublin, D02 XE80. The operational offices are located in Riga, Latvia, Uriekstes Street, 2a-24, LV – 1005.
Investors don’t pay any fees on Esketit Platform.
The idiom “skin in the game” is commonly used in the corporate finance industry and refers to when the owners maintain an equity stake in circumstances outside investors seek to invest. In Esketit, our Founders have invested in our Loan Originators, and the Loan Originators are investing in the loans. The Founders of Esketit own both the platform and loan originators. Why? To ensure that the interests of the lending company are aligned with the interests of the investor – both sides have a stake in the investment.
Becoming an investor
Anyone who is at least 18 years old and older and has a bank account of the EU or EEA can become an investor.
You need to register on the Esketit Platform, confirm your email address, complete the identity verification process by providing either a National ID or a passport, and verify your bank account.
The identity verification process is completed online. You will need to make a photo of your identification document showing both sides and your face. The KYC and identification services are performed fully online, using Veriff, an online identity verification provider.
It usually takes a few minutes to verify a Private account. For Institutional, it may take longer.
You can verify your account after your identity is confirmed. To do so, you need to transfer funds to one of the bank accounts listed on our website. This allows you to connect your bank account to your Investor profile. You only need to do this once. With us, the minimal investment is just 10€.
The bank verification process is complete after your bank delivers your payment to us. Delivery time depends on how fast your bank delivers payments in EUR currency.
If you want to top up your account, you have to make a transfer from your bank account to the bank account of Esketit Platform Limited. The Esketit Platform bank account number can be found in the “Deposit & withdraw” section on the website. Please make sure to mention your Investor Account number (starting with INV-) in the payment reference field. The Investor Account Number (ID) is visible on the “Account Overview” section of the website.
The minimum investment in each loan deal is 10€.
The investment opportunities in loans are listed in Euros. The loan originators are receiving funding in Euros and handling currency risks themselves.
Once the investment has been made, it is transferred directly to the Loan Originator. Your principal is repaid to you at the maturity date, which is stated for each project. Monthly, you will receive the interest payment for your investment.
Every investor for every investment gets an electronically concluded Assignment Agreement once the investment is made. You can find the Assignment Agreement in your Investor Profile.
This is proof of investment in a loan. All investment agreements will be stored in your Investor’s Profile.
There is no limit on the number of projects you want to invest in, as long as you have funds available on your investing account.
It is possible to place your investment for sale on the Secondary Market. If another investor agrees to buy your listing for your set price with discount or premium, or at par, you exit your investment before the maturity date.
Loans could also be finished by the borrower or loan originator faster than its maturity date.
Esketit platform could also consider rebuying those loans from you with a 1% discount in case you have such an urgent need. Please contact us at [email protected] to arrange this.
Auto-Invest is the possibility to choose your investment criteria, such as preferred interest rate, maximum and minimum investment per deal, maturity date, and the system will automatically invest your money as long as your account balance is sufficient, and the deals are available for investment.
On Esketit, you will find loans from CreamFinance Group and loan originators from Sri Lanka and Jordan. Owners of Esketit own shares in all of those companies. We place only loans where we are confident that the business model works well and could bring good value to our investors.
The loan deal is available for investment for as long as it has not reached its maturity date, or has not been fully funded by other investors.
The interest rate is specified in the Assignment Agreement, and the interest is calculated according to it. The interest is payable from the day you have invested, considering the elapsed time of the deal and until the loan deal reaches its maturity date. The formula for calculating interest = days of investing / 365 * interest rate * invested amount.
Suppose the interest payments or principal repayment are delayed for more than 60 calendar days. In that case, the Loan Originator is obliged to redeem your investment as well as to pay all accrued interest in accordance with the interest rate under the Assignment Agreement. Whether the BuyBack Obligation is applicable to a corresponding loan offer is specified in the description of the loan offer.
Yes, a loan could be extended up to 5 times and each extension could be no more than 31 days.
Any investment is a risk, the interest rate paid to the investors is the compensation for the risk they are taking. Please consider carefully how much risk you can tolerate before making an investment.
If you have invested in a loan on the primary market and wish to retrieve your funds before the maturity date, you have an option to sell your claim right against the borrower in the Secondary Market. Selling your claim on the Secondary Market is completely free of charge.
You will receive the interest on the loan deal until someone buys it. You're still earning while the loan is listed for sale and not bought from you.
The Investor may choose to put a loan deal for sale on SM with a discount in order to sell the investment faster. For example, if the outstanding principal is Eur 100, but the selling price is Eur 90, then the discount is 10%. On the ontrary, a premium means the price is higher than the outstanding principal because it takes into account future interest payments. Every Investor decides for themselves what conditions they are willing to apply to deals on SM.
Yes, you can sell the loan deal again on SM as many times as you are willing.
Refer a friend
Each investor receives their own unique referral code that they can copy & paste from the referral page and send to friends, colleagues, family, social media followers... anyone.
When a new investor registers with Esketit using your unique referral code and verifies their account, they get added to your referral list. Your friend needs to complete the identity verification for them to count as a referral.
After registering and verification, your friend must make their first investment within 30 days for you both to receive bonuses. The more your friend invests, the bigger the bonus.
You don't need to join. When you register with Esketit, you automatically get a unique referral code that you can share with anyone. Every investor that shares their code successfully, automatically becomes eligible for the referral program bonus.
NB! For the investor and the referral to receive the bonus, both parties should be at least 18 years old.
You can refer an indefinite amount of people – the more, the better. And the more your friends invest, the bigger your bonus; however, per each referral, your maximum bonus is 1000 EUR.
In legal terms, it goes like this: The referral bonus is calculated in the amount of 1% (one percent) from your referral’s invested outstanding amount of funds on Esketit within 30 days of registration, but not more than EUR 1 000,- (one thousand euros, 00 euro cents).
Don't forget, that this is a win-win situation, because both, you and your buddy will receive the bonus. The referral bonus will be credited to both of your investors' accounts in one installment within ten business days after 30 (thirty) calendar days from the date of the referral's registration with Esketit.
If you're really interested in all the legal information, visit the Referral program's T&Cs page. But other than that, it's pretty straightforward: more friends = more rewards. So share your code and receive tasty bonuses.
Sharing is caring. Sharing is earning.
You can withdraw any amount shown under the “Available funds“ field by specifying how much you want to withdraw and press the “Withdraw“ button. The requested amount will be credited to your linked bank account according to the terms and conditions specified in the platform user agreement.
Esketit Platform does not take responsibility for paying taxes on capital gain or the interest earned. Each Investor is responsible for familiarizing themselves with the tax laws applicable in their state and paying all required taxes.
If you have questions that are not covered in the Frequently Asked Questions section or want to share any feedback with us, please do not hesitate to contact us at [email protected] We will be happy to hear all your ideas and implement the most requested ones.