A few days ago Finnish p2p lending site Fixura launched. The bilingual (Finnish & Swedish) site already lists over a hundred loan requests.

CEO Simon Sandvik told P2P-Banking.com:

This social lending company differs from the ‘standard’ ones as it does not provide lending auctions. Instead, the borrower sets his/her own interest rate, amount (1, 000 – 10,000 EUR) and duration of the loan. Then a Finnish credit scoring company processes the data and the borrower gets a one-to-five star rating. If a borrower is marked for payment issues in the past, the loan request automatically gets rejected.

… investors can also diversify their investments through different loans in 100 EUR lots. …

The company operates totally free of paper as it uses the local banks’ identification systems, a kind of e-signature. The investors can invest directly online and the borrowers can sign their contracts.

If a loan does not get fully funded the borrower can choose after 14 days from the first investment to accept a part of it, or reject it as he or she sees fit.

Currently investors pay 4 Euro for each withdrawal. Fees for borrowers are

• 5% origination fee
• 2% annual fee
• 4 Euro per transaction

Compared to other p2p lending services these fees are rather high.