Credilit Créditos IV
Project written, published, and posted by Créditos del Litoral SA (Credilit)
Join the Credit Portfolio in dollars managed by Créditos del Litoral SA (Credilit) and obtain a fixed annual yield of 12.10 % in dollars for one year.
The monthly interest will be reinvested to capitalize these flows and obtain a higher interest at the end of the 12 months. In this way investors will receive a payment at the end of the project of USD 56,048.
Through SeSocio.com, USD 50,000 will be raised for the Credit Portfolio for consumption (appliances, motorcycles and others) and financing for the sale of goods made by third parties managed by Credilit in the Eastern Republic of Uruguay.
The structure of the investment will be made through a Mutual Contract with Yaritza SA (the model of the contract is the following MUTUAL AGREEMENT WITH SHARE OF SHARES ) who will buy credit portfolios to Credilit and said mutual will be guaranteed with the pledge of Credits shares del Litoral SA (Credilit). The profitability for the investor is 12,10 % annual in dollars, reinvesting the monthly interest and capitalizing it for a period of 12 months, obtaining a payment at the end of the loan of USD 56,048.
Investment flow. In the table you can see the money that will be received in each period until the end of the investment with an example of USD 50,000 as the exact investment amount (the final amount to be collected may be lower or higher than reflected in the table and flows of the project will be proportional to the amount collected).
Créditos del Litoral SA (Credilit) is a credit management company, authorized by resolution of the Central Bank of Uruguay and supervised by said entity.
According to this regulation, Credilit can intervene in the financing of the sale of goods and services by third parties, granting credit facilities through the most varied tools.
The company started its activities in the city of Fray Bentos in 1981.
Until 2016 the company developed an activity limited to the granting of a reduced number of credits in that city. That year marks the beginning of a project with potential for growth and diversification, being acquired by Argentine shareholders with long managerial experience in the financial business.
Oscar Jorge Vissani - General Manager & Partner
Oscar, is the General Manager and partner of Credilit, has more than 40 years of experience in financial products and services, Wholesale Banking, Retail, Consumer loans and Credit Cards.
He specializes in Foreign Trade Financing, debt structuring, experience in Credits and Collections, Financial Operations, Stock Exchange Operations, Development of New Products and Financial Services.
Oscar has led multidisciplinary working groups to achieve demanding objectives, successfully promoting several changes of brands and corporate identity and the management and management of institutional communication of the company.
He has also served as Coordinator, Professor of BIRPEC, School of Bank Credits, Risk Analysis, Balance Sheet, Credits, Investment Projects and Case Analysis.
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How do Personal Loans work?
The main business of Credilit at present are personal loans. They are sold directly in Credilit through their branches and the call center, which also deals with collection control and recovery of arrears.
Thanks to retailers attached to its platform, Credilit places purchase orders for customers who want their consumer loans. What does this mean? Credilit pays the customer's purchase directly and the merchant accepts Credilit's financing, which repays it for several months.
Credilit is currently developing and improving its digital platforms to complement itself with technology and turn to the "fintech" world. With this Credilit will improve the user experience, allowing them to access in real time to their current account, their general situation with Credilit, the promotions, products and services that are at their disposal.
In addition, the company is developing an app to link Credilit with commerce, allowing payment of the customer's consumption in real time, without the need for approval, having a pre-approved line (as if it were a credit card, but from the cell phone ), something totally disruptive in the square.
On the other hand, in the last 3 years, Uruguay is ranked by Moody's as Baa2 and by S & P and Fitch as BBB. The general delinquency of credit as of September 30, 2016 stands at 3.1%.
To show the transparency of the project, we bring you the status of Yaritza SA and Créditos del Litoral SA (Credilit):
What is a Credit Portfolio?
They are called "Credit Portfolios" those documents that cover the financial assets or the financing operations towards third parties and that the holder of said documents or portfolio reserves the right to enforce the obligations stipulated in its text.
What is the interest rate of the project?
The interest rate of the loan is 12.10% fixed annual in dollars.
How long does it take to pay?
Once 100% of the project has been financed, the contracts are signed, the money is sent to the team, once the transfer received is confirmed, the project deadlines start running, as can be seen in the investment flow chart.
How are the interests perceived?
The interest will be reinvested month by month, so you will receive the payment of the same with your capital invested on month 12.
Is it possible to exit the project?
Yes! You can leave at any time, selling your participation through the trading platform. Take into account that you can do it even before achieving 100% funding by paying a variable commission according to the following table .
What is the relationship between Yaritza SA and Credilit?
Yaritza SA is a duly constituted corporation, validly existing and in force under the laws of the Oriental Republic of Uruguay and it is with the funds obtained from the project that it will purchase loan portfolios to Credilit for USD 50,000.
How much is the minimum amount to enter?
SeSocio allows you to be part of projects of this scope without minimum amounts.
By what means can I invest?
You can do it with a credit card or bank transfer.
What quote do my currency take?
In case you send your investment in the local currency, the quote will be taken at the moment of receiving the transfer. We also give you the option to transfer or directly deposit dollars.
How do I know that my money will be used in what I am investing?
Your money goes directly to a Trust, independent of the assets of SeSocio, which is administered by BLC Trust SA (Financial Fiduciary No. 63, registered with the CNV) who ensures that all investments are made according to the instructions given by each investor. Additionally, both the trustees and the external auditors also ensure that your contributions have the destiny chosen by you.
Which are the risk factors?
The investor must carefully consider the risk factors mentioned in the following article , in addition to the rest of the information contained in the publication of the Collective Financing Project. Any investor that considers the possibility of acquiring participations in collective financing projects must make their own independent evaluation of the risks associated with the acquisition of such participations.
What are the risks of investing in the Credilit Loan Portfolio?
The risks on the project fall on the lack of payment of interest by Yaritza SA for the period of 12 months. This leads to a series of risks detailed in the following article.