How it works

What does each loan status mean?

  1. Current

    The borrower has either made a timely monthly repayment or the first due date has not arrived as per loan schedule.

  2. Extended(n)

    Loans with the BuyBack Guarantee:

    A borrower can extend the duration of a loan by paying the interest, as per loan schedule. A maximum of six extensions are allowed; thus, in case a borrower requests the 7th extension, the BuyBack Guarantee will be triggered repurchasing the loan from the respective investors. The number in brackets shows how many times the loan has been extended.

    Loans with the Payment Guarantee:

    Status “Extended” does not apply to loans offered with the Payment Guarantee.

    Ventures loans:

    A borrower can extend the duration of a loan not more than 2 times; each extension for up to 12 months.

  3. Refinanced(n)

    Loans with the BuyBack Guarantee:

    A borrower can refinance the loan through the same or a different loan originator by paying the interest, as per loan schedule. A loan may be refinanced no more than six times; in case a borrower refinances the loan for the 7th time, the BuyBack Guarantee will be triggered repurchasing the loan from the respective investors. The number in brackets shows how many times the loan has been refinanced.

    Loans with the Payment Guarantee:

    Status "Refinanced" does not apply to loans offered with the Payment Guarantee.

    Ventures loans:

    Status "Refinanced" does not apply to Ventures loans.

  4. Delayed

    Loans with the BuyBack Guarantee:

    A borrower is late with the monthly repayment of the loan.

    The interest will be paid to the investors as per loan schedule even in case the borrower is late with the repayment and the status of the loan turns into “Delayed”.

    In case of the delay with the repayment for more than 60 days, the BuyBack Guarantee will be triggered repurchasing the loan from the respective investors, compensating both invested principal and earned interest in the full amount.

    Loans with the Payment Guarantee:

    A borrower is late with the monthly repayment of the loan for 1 to 60 days.

    The interest and principal will be paid as per loan schedule even in the case when the borrower is late with the repayment and the status of the loan turns into “Delayed”.

    Ventures loans:

    A borrower is late with the monthly repayment of the loan for 1 to 60 days.

  5. Defaulted

    Loans with the BuyBack Guarantee:

    There is no such status for the loans with the BuyBack Guarantee, as the loans that are delinquent for more than 60 days will be repurchased from investors by compensating both invested principal and earned interest in the full amount.

    Loans with the Payment Guarantee:

    A borrower is late with the repayment for more than 60 days.

    The status “Defaulted” triggers:

    - Repurchase of the loan by TWINO from investors with the obligation to ensure all outstanding loan repayments as per original loan schedule.

    - Handover of the loan collection to an external debt collection agency or immediate sale to a third party.

    NB! Once the loan status changes to “Defaulted” the loan cannot be sold on the secondary market.

    Ventures loans:

    A borrower is late with the repayment for more than 60 days.

    The status “Defaulted” triggers:

    - Repurchase of the loan by TWINO from investors for EUR 0.01 with the obligation to transfer all proceeds resulting through either debt collection or loan sale to a third party;

    - Handover of the loan collection to an external debt collection agency or immediate sale to a third party.

    NB! Once the loan status changes to “Defaulted” the loan cannot be sold on the secondary market.

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