Silta Finance - Competitive interest rates and fast Due Diligence draw project financing companies in the direction of crypto loan - press release
Silta Finance - Competitive interest rates and fast Due Diligence draw project financing companies in the direction of crypto loan - press release
press release
press release. Silta Finance, a new Defi credit solution, questions the dominance of the traditional banking sector in project financing by announcing a partnership with the development company Wenergy based in Singapore Global.
WENERGY GLOBAL has agreed to explore solutions for lending in cryptocurrency in order to gain access to project financing. The company works with Silta, a new startup that connects Defi with infrastructure finance. Silta gives access to a new real investment class, The investment universe diversified and offers competitive interest rates. With this deal, weenergie
Silta facilitates lending for the construction of various types of infrastructure systems as part of a project financing framework. Borrowers can make credit applications, Silta carries out a risk analysis and carries out a credit check. On the basis of this information, the Silta community coordinates which projects are to be financed. Anyone who has crypto can contribute to the loan pool of Silta and receive regular interest payments.
In addition to competitive loan interest, Silta strives for a significant acceleration of the Due Diligence process. Silta-founder, ben sheppard Project financing and PPP (public-private partnership), commented:
"Silta sells debts to a project developer and takes a fee for the sale of these debts. The difference to classic banking is that borrowers only have to pay for the transaction advice of the lenders and for the creditworthiness check in the millions. can be such a PPP lite.
Smaller PPP projects, especially in emerging countries, are not always associated with contractual entry rights such as state-secured guarantees. Without such additional protection levels, the risk premium used by lenders can be too high, which makes the loans priceless. That wants to change Silta. Wenergy Global intends to submit a funding application in the range of $ 8-10 million via Silta. In previous transactions with his lenders, Wenergy Global has completed his loans within five years and paid out completely, with all payments being made on time. For their upcoming project portfolio in Southeast Asia, Wenergy Global and Silta strive for an interest rate in the range of 5-6% with a repayment duration of 6-8 years. Silta and Wenergy Global share a strong passion for ESG targets (Environment, Social, Governance) and want to change people's lives significantly. The aim of this first cooperation is to implement an impact investment in a portfolio consisting of cleanly operated mini-grids for the electrification of off-grid communities, similar to the Sabang project in Palawan
The vision of Silta is to finance PPP projects below $ 100 million. A large number of investment products will be available to the lenders. Some of the loan pools will contribute to effective projects on which Wenergy is working globally. Others will endeavor to fulfill robust ESG criteria with additional advantages such as energy-efficient street lighting with the potential to reduce the crime rate.
On the future of project financing about Defi says Breath Ramsundersingh, CEO of Wenergy Global and former Senior Program Manager of the World Bank Group: "When promoting change, it is about enabling investors around the world to get in touch with humans and their companies in remote areas in emerging countries In real time.
A prototype implementation of the Silta solution will be available this year, so that partners like Wenergy Global can experiment with the solution right from the start. Since more and more borrowers from Southeast Asia and the Mena region show great interest in Silta, the goal is to token the first project financing loan by the second quarter of 2022.
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