Savy

Savy is a Lithuanian P2P lending platform, live since 2014 and run by UAB Bendras finansavimas in Vilnius. The Bank of Lithuania authorised it as a crowdfunding service provider on 1 August 2023 under authorisation code LB002207; the same company has been on the Lithuanian consumer credit provider register since April 2015 and on the peer-to-peer lending platform operator register since August 2016. Investors can back consumer loans, business loans, mortgage loans secured on real estate and real estate development projects, either by hand or through automated strategies that run from cautious to aggressive. Claims can be sold on an active secondary market, for 1 percent of the transaction, or 3 percent once a loan agreement has been terminated. The Investors' Fund is optional and covers consumer loans only: the investor gives up part of the interest, and the fund pays back the investment plus 90 days of interest once a borrower is 90 days late. It is a reserve fund and not a buyback guarantee, and the terms say Savy is not liable if the fund holds too little to meet every claim. Savy also lends its own money alongside investors on consumer loans, up to 30 percent of a loan below 10,000 euros and up to 70 percent above that, and in an auction its bid counts as submitted ahead of every investor bid.