Lendico Makes First Spanish Loans Available on German Marketplace

Today p2p lending service Lendico made the first loans from Spanish borrowers available to German investors on the German marketplace. German lenders can now bid on these loans provided they fulfill a few prerequisites. To prepare for this, Lendico had in the past weeks informed interested investors of the necessary steps to enable bidding on these cross-border loans on the German marketplace:

• Lenders need to upgrade to a (free) premium account, if they don’t already have one.
• Lenders need to send a form via postal mail to the tax authorities that certifies the status of residency. Lendico advices that it will usually take the tax authorities 5-21 days to process this confirmation.
• The returned postal form can then be submitted via post, fax or email (scan) to Lendico.

The origin of the listed loans is now marked by a flag symbol on the German marketplace (see below).

Excerpt of a screenshot of Lendico.de showing listed German and Spanish p2p loans

This does not work (yet?) for loans from the other Lendico markets.