Announcements of the lending companies for investors and clients (with content updates)

We are in close contact with the lending companies on Mintos. As the effects of the COVID-19 pandemic continue influencing businesses and people globally, companies are working to modify, adjust and put in place different solutions that will ease the effects of the pandemic. 

Many companies are sharing announcements for their clients and investors, and we will be adding these announcements here, with updates over the next days.


1. ESTO: “Taking active steps in managing the increased demand”

2. ID Finance: “Committed to transparent and sustainable business; holding a public webinar on March 19, 2020”

3. Creditstar: “A strong competitive advantage”

ESTO: “Taking active steps in managing the increased demand”

ESTO would like to inform our partners at Mintos of the steps we have taken during this turbulent time. ESTOs main strategy at the moment is liquidity from the issued book and to extend our capital runway to maximum period. Therefore we have taken the following steps: 

1. We keep high liquidity rate with potential to repay some of the loans to keep our capital costs down.
2. We have tightened our scoring filters with multiple additional checkpoints. We have stopped issuance to certain sectors and profiles.
3. We have cut issuance and credit limits for credit accounts. ESTO believes in taking active steps in managing the increased demand by taking issuance down instead of raising.
4. ESTO jump-started overviewing collections policies and managing cashflow with extended client communication.
5. ESTO is working at 100% capacity from home offices since last Friday.
6. We believe that all companies should be extra careful with current issuance and that liquidity is vital. ESTO has taken steps what are quickly reversible and we can start to scale again when the time is right.
7. ESTOs PnL is strong (2020 has generated net profit already over 260,000 EUR). ESTOs balance sheet is strong – strong equity and subordinated debt ratio to the loan book.

ID Finance: “Committed to transparent and sustainable business; holding a public webinar on March 19, 2020”

To Our Valued Investors and Partners,

Since the start of the year, we have been closely following the COVID-19 progression and proactively ensuring the continuity of our business as well as the safety and well-being of our employees and stakeholders. Despite the development of the virus, our team is committed to maintaining the high delivery standards of our products and services, continuing to support our customers.

 ID Finance will remain open and we are modifying global and local processes in order to guarantee our employees safety while ensuring our business remains fully operational. 

Our employees across Europe are being encouraged to work remotely for the next few weeks. Our infrastructure is fully capable of supporting this rearrangement and our people are following protocols to maintain the security, confidentiality and business performance. 

At ID Finance we are committed to building a sustainable and transparent business. We will hold a webinar this Thursday, March 19th at 5 pm CET. 

Boris Batine, CEO and Со-Founder at ID Finance, will cover the following topics and answer any of your questions:

Overview of 2019 results

– Preliminary Q1 2020 results

– Business continuity measures and risk management

– Q&A

You can also send your questions ahead of the webinar to [email protected]. The link to the webinar will be posted on our website:, as well as in socials.

These uncertain times have not affected our dedication or commitment. More than ever, we are committed and extremely proud of how our employees have risen to this challenge.

 We wish you, your families and loved ones, and everyone at your company, good health and continued success. Thank you for your business and partnership.  

Boris Batine 

CEO and Со-Founder 

ID Finance

Creditstar: “A strong competitive advantage”

Dear Investors and other Stakeholders,

I am writing to you to provide an update regarding Creditstar’s response to coronavirus (COVID-19). Our team is monitoring the situation closely and have precautions in place to ensure that the health of our people and the health of our business is well maintained and risk scenarios are being constantly monitored. As of now, Creditstar is maintaining a healthy course for business growth. 

Our People

Due to the online nature of our business, our people are not exposed to the risk of infection spreading via face-to-face customer contact. We have partially relocated our staff to home offices and are offering remote working flexibility to several business functions to decrease the risk of key people getting infected while commuting to work or similar. Ensuring the well-being of our highly professional team is important to keep the business running smoothly.

Our Services and Client Repayments

As at any time, we are closely monitoring our client repayments. We do not currently notice any decreases in planned incoming funds. But we are making sure that we keep very high standards for the reminder and collection processes. We have also reviewed our policies for providing needed flexibility with debt repayment schedules to our clients if needed in the time of crisis.

Our lending volumes are also strong and in line with our expectations. We are maintaining a healthy course for continuous growth. This also means that we keep focusing on acceptance control for cases of increased short-term demand for our service. Our affordability and creditworthiness checks will also take into account the latest economic circumstances.

We have reached out to our key partners, to get assurance that their services are sustained.

Useful experience from the 2008 financial crisis

Creditstar is in an advantageous position, compared to a number of other companies, as we have the experience of how to deal with our loan portfolio and clients during the time of crisis, as we successfully came through the financial crisis of 2008. Our experience is that being proactive with clients and offering reasonable flexibility with debt repayment schedules results in no significant deterioration in our loan portfolio quality. We are well prepared to use similar approaches to loan portfolio management if necessary.

Opportunity to build and strengthen customer relationships

At Creditstar we understand that these can be challenging times for our clients. While being a responsible financial market participant, we will focus on strengthening our repeat customer relationships and gain new customers by introducing our reserve and back-up money concept to a growing number of customers. Doing this at a time when a number of our competitors are not prepared for such a crisis, gives us a strong competitive advantage.

At Creditstar, I am confident that the business is well managed throughout these unsettling times. Should you have any concerns or questions, please contact me.

Stay well and kind regards,

Aaro Sosaar



First seen onMintos Blog

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