The crowdfunding platform "FinoMark", aiming to facilitate debt collection processes, is starting a collaboration with the debt collection company "Legal Balance", which operates the platform Eskolos.lt. This partnership will help reduce the risk of delayed payments by loan recipients. Companies that receive funds for business development through crowdfunding platforms sometimes face unpleasant situations where, due to the fault of other parties, such as an insolvent client, they are unable to meet their financial obligations. In such cases, the borrowing company’s credit history and reputation suffer, and moreover, the investor who financed the business loan does not receive their return on investment.

In an attempt to maintain client relationships or try to recover debts on their own, borrowing companies often delay starting the debt collection process, but this way, the debt accumulates and grows, and with significant delays in loan repayments, they themselves risk becoming insolvent. “Since we are a crowdfunding platform, the smoothness of our processes and client experiences depend on two components – investors and loan recipients. If we cannot offer reliable investment products, we will not attract investors, and without them, loan recipients will not get financing. Therefore, to ensure smooth cash flow on the platform, we are starting a collaboration with Eskolos.lt to help loan recipients avoid payment delays,” says Gražvydas Balčas, CEO of "FinoMark".

In collaboration with "Eskolos.lt", the "FinoMark" platform will offer debt collection services to its clients who have debts from third parties. Clients of Eskolos.lt will be able to recover the largest part of their debt immediately by selling the debt to the Eskolos.lt platform. “Trying to recover debt on their own often results in wasted time without any results. By collaborating with "FinoMark", we see that this service will be beneficial not only to companies with "FinoMark" loans but also to the investors who financed them,” comments Marius Šlepetis, director of the company "Legal Balance", which operates the "Eskolos.lt" platform.

"FinoMark" is a crowdfunding platform for businesses, providing loans from 3,000 to 500,000 euros to companies operating for at least 12 months. "Eskolos.lt" is an online debt collection platform that has been operating internationally for more than 10 years.