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Tera Funding’s peer-to-peer property loans top 30 billion won

Collected: 2016.07.27

Distributed: 2016.07.28

Source: Go Direct

Tera Funding, a South Korean peer-to-peer property financial service provider, said on Tuesday its accumulated loans surpassed 30 billion won ($26.45 million) for the first time in its industry. That’s the achievement made 19 months after its service was launched.

The company links housing loan borrowers and investors online. Loans are secured by property collateral and invested money is returned to investors through four channels -- loan replacement, home sale, home rental and auction. Investors receive a fixed return on a monthly basis.

Using Tera Fund, small property developers whose access is limited to commercial banks can raise money at an affordable interest rate of 11 to 13 percent, while retail investors can get an investment opportunity.

According to the company, the fund has delivered an annual return of 12.79 percent before tax, while borrowers’ repayment amounted to 8.77 billion won. Total return to investors amounted to 490 million won after tax.

By Shin Soo-hyun

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