If the lending company has an assigned Mintos Risk Score, the status of the company on Mintos is “Active”, regardless of the score value. “Active” is any company who has/can have loans available for investment on the Mintos Primary Market, or whose loans can be traded on the Secondary Market. This status is not visibly assigned on the marketplace.
Status: Suspended (S)
Status “Suspended” (S) means that all investment or selling activities related to the loans issued by a specific lending company are stopped on the Mintos Primary and Secondary Markets. Suspension of a particular lending company occurs due to the company failing to pass on borrowers’ repayments to investors and/or honor their buyback obligation.
We use a suspension to protect investors from further investments in loans issued by the lending company, until the next steps are known. In case of positive developments, the suspension can be lifted and investments can be continued. On the marketplace, this status is visibly assigned as “Suspended” or (S).
Status: Defaulted (D)
Status “Defaulted” (D) means that investment or selling activities related to the loans issued by a specific lending company are not possible anymore on the Mintos Primary and Secondary Markets.
Status “Defaulted” (D) can be assigned to loans offered by a specific lending company under three possible criteria:
a.) Current estimated cash flows are not sufficient to cover full exposure
b.) The lending company has declared bankruptcy or a process of insolvency is underway (including enforced liquidation) or the company is under legal protection
c) A restructuring solution has not been achieved within 180 days of suspension