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The Lithuanian Non-bank Financier is Entering Poland
The alternative non-bank financier Finbee for Business is starting operations in Poland. It will provide loans of up to 200,000 PLN (approximately 46,700 EUR) for small and medium-sized businesses for up to three years without collateral.
According to the head of Finbee Verslui, Tomas Mačiulaitis, the decision to expand into Poland was made after a long market analysis: “First, we focused on choosing a country within the European region. Then we analyzed ten potential countries based on various criteria—macroeconomic indicators, political stability, market size, and access to financing sources for businesses. Finally, we thoroughly assessed nuances related to our business, such as the processes for recovering bad loans, and decided that Poland is currently the most attractive country for expansion.”
“We have accumulated years of experience financing small businesses in Lithuania and have already financed several thousand such companies since we started operating. This is the segment we understand best and can serve effectively, so we will similarly focus here in Poland. Poles are known for their entrepreneurship, with a particularly high number of small micro businesses that employ up to 10 people. There are over 2.2 million of these registered in Poland, and they are our potential clients,” comments T. Mačiulaitis.
Loans for Polish businesses will be financed through the company’s funding sources, specifically its own capital and borrowed funds from institutional investors, rather than through a crowdfunding model.
With the entry into the Polish market, a company called “Finbee Poland” has been established, led by Aleksander Rutkowski, who has over ten years of experience in fintech and banking. He previously served as the CEO of “Kreditech Poland,” where he led strategic product development and market growth, was the head of the sales finance department at “Nest Bank,” and managed international operations as the head of international markets at “Alisa Bank Oyj.”
According to T. Mačiulaitis, there are no plans to expand into other foreign markets in the near future. “We do not aim to place flags in as many countries as possible. This is our first step toward becoming an international alternative lending company, so at this time, we aim for a very clear focus on expansion in this country,” says T. Mačiulaitis.
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