The effects of Covid-19 on the economy will be felt for at least the next 2 years. Access to lending will again be limited. Asset prices, including real estate, will decline. People's incomes will decrease, while unemployment will increase. Businesses will go bankrupt. The banks' credit portfolios will worsen, leading to a number of 2008-like events.
The crisis will pass
All of this, of course, will be temporary. Crises are cyclical and usually go away in one to two years. The most important thing right now is to save your business and assets. However, how to do this if you don’t have access to working capital? And why not start a new business during a crisis?
The alternative Leno
We are not talking about payday loans. Leno has never focused on payday loans. We are backed by Japanese investors, who have already invested more than €20 mln, so that Leno can finance micro and small businesses and individuals.
Leno is one of the few non-bank lenders in Bulgaria who lends from €4,000 to €2,500,000. 💵
Now, even lower cost. Check the calculator and the three different plans. Leno still refunds up to 90% of the interest paid, with regular payment on business loans.
If you don’t want to (or can’t afford to) wait 1-2 months to get a loan, Leno is probably the best lender for you. We can do a mortgage-backed loan for 24 hours if, of course, you are ready with all the documents.
We all want to pay off our loans as soon as possible, but we also want a small monthly instalment. This depends not only on the interest rate but also on the term (see the calculator). Leno gives loans from 3 months up to 33 years, even to business clients. How many banks in Bulgaria offer business loans for up to 33 years? None. 🙀
5. Quick and easy
Applying for a loan has to be online, and the approval should be almost immediate, after all, the year is 2020. Leno removes all the bureaucracy. We don’t require a business plan, financial statements, or other unnecessary documents. Apply online
6. High approval rate
We want to approve 100% of our customers, but unfortunately, this is not possible. We mainly analyse the real estate provided as collateral, but also comply with the provisions of the Law on Consumer Real Estate Loans.
7. Up to €2,500 in advance
If you have taken out a mortgage or a business loan, you know that preparing your loan application can be expensive. Therefore, Leno gives up to €2,500 in advance - before the mortgage and before you start collecting the necessary documents. This amount often helps our clients pay off other urgent obligations.
8. Pay 60 days later
You can now get a loan from Leno, for example, on October 10, and your first instalment will be on January 10, instead of November 10. Totally free.
Get up to €2,500,000.
9. Bad credit history
Leno lends to clients with bad credit history, as well as to companies with no credit history.
10. Lack of income
Lack of income or turnover is not a reason for Leno to refuse your loan. However, please note that we comply with all legal provisions that impose certain restrictions.
Whether you have one or ten foreclosures on the property you offer as collateral, we can give you a loan. Leno's lawyers have extensive experience in communication with PEA. Even if a public sale is scheduled, it can be easily stopped, but you do need to hurry. Apply now
12. Tax liabilities
This is a serious problem in Bulgaria. If you have liabilities to the state, you cannot dispose of your own property. So, for example, if you owe €10,000 and you need to borrow against your property, you can't. Well, now you can, Leno solved this problem.
13. Age 65+
Leno does not practice age discrimination. In other words, your current age does not affect the term of the loan. We gave a 10-year loan to an 81-year-old gentleman. 🤘
14. No "debt collection"
Leno does not have a “Debt collection” department. This means that if you default on your loan, you will only be contacted by the account manager who initially provided the loan. #NoHarassment
15. Free insurance
For Premium and Infinity clients (learn more), Leno JSC pays 50% of car insurance and 100% of home insurance on the collateral, when they are made through insurance broker Lenno Ins Ltd. 🛡
16. Leno App
17. Not just a lender
Leno aims to become Europe’s next challenger bank. In 2017 we acquired an investment firm and, in 2019, an insurance broker. More and better financial services are coming in 2020 and 2021. 🚀
Leno JSC is a financial institution, registered with the Bulgarian National Bank (firm reference number BGR00341) in 2013. The company has provided loans for more than €10 million, while no fines or infringement acts have ever been imposed. 🥇