Borrowers can apply for loans from 1,000 to 25,000 Euro and loan terms of 2,3,4 or 5 years. Much like Lending Club Lendico assigns differents grades to the loan request and sets the interest rates depending on grade and loan term. Interest rates (nominal) range from 2 to 11 percent which might give Lendico a hard time to attract lenders considering the 1% service fee plus expected bad debts of up to 9.9% (in grade E).
The management team of Lendico consists of Dominik Steinkühler, Clemens Paschke, Philipp Petrescu and Christoph Samwer. Steinkühler said the company targets borrowers that have no loans from banks so far, not borrowers that cannot get loans anymore and are looking for alternate sources.
P2P-Kredite.com has a detailed write-up with screenshots from a lender’s perspective.