All secured car loans are originated, pre-funded, and serviced by mogo. It means that similar to real estate backed loans, Mintos puts on the platform already funded loans (and most have had a number of successful payments) and investors can start earning interest from the moment they have invested in a loan. Mogo keeps 5% of each loan on its books.
This construct provides additional security to investors – a bit like the provision funds some UK marketplaces maintain; only that in this case it currently is a limit-time guarantee.
