INSUBCONTINENT EXCLUSIVE:
French startup October wants to reduce the pressure on small and medium companies going through the coronavirus crisis
months.October works with small companies in France, Spain, Italy, Netherlands and Germany that need a credit line
You can apply to a credit line and get an answer just a few days later
Usually, companies pay back their loans over time, with monthly repayments over three months to seven years.October evaluates risk before
It works with many institutional partners to raise funds and deploy capital in those loans
Some retail customers also invest on October directly on a company-by-company basis.But many small European companies that have borrowed
partners that it is postponing all outstanding loans for the next three months
then asked retail investors to vote whether they are in favor or against postponing loans; 99.42% of retail investors who voted followed
capital.This way, fewer companies should go bankrupt over the next three months
It should minimize the impact of the current economic crisis on the overall default rate of October loans.
