TOTAL CAPITAL €4,344,431
PORTFOLIO €4,344,431
CAPITAL IN NEED €4,344,431
AVERAGE RATE 13.9% p.a.

Permitting Disclaimer

Quanloop Usaldusfond, the Borrower, is a limited partnership fund registered according to the Investment Funds Act of the Republic of Estonia.

A limited partnership fund may manage its own assets or enter into a management contract with a fund manager. Only a fund manager which has received an activity licence pursuant to the Investment Funds Act or which has been issued an activity licence of a UCITS or alternative fund manager in another EEA Member State or which has registered its operation with the Financial Supervision Authority may act as a limited partnership fund manager or a general partner of a limited partnership fund which manages its own assets. A limited partnership fund which manages its own assets shall not be regarded as a self-managed fund for the purposes of Directive 2011/61/EU of the European Parliament and of the Council.

Quanloop Usaldusfond is managed by Bondkick AS, a public limited company registered as a limited partnership fund manager with the Financial Supervision Authority of the Republic of Estonia. Bondkick AS registration is valid, as disclosed on this page.

Business lending, being the Quanloop Usaldusfond business activity, is run under its fund manager supervision and its license to operate as a financial institution. Bondkick AS has a valid operating license no. FFA000250, as disclosed on this page.

Consumer lending is not being offered; should Quanloop Usaldusfond decide to offer consumer lending, where a consumer is a natural person who concludes a transaction not related to independent economic or professional activities, as stated in § 1 (5) of the Estonian Law of Obligations Act, it should apply for an authorisation to operate as a creditor as outlined in the Creditors and Credit Intermediaries Act of the Republic of Estonia. As of today, Quanloop Usaldusfond has no plans for consumer lending; otherwise, an authorisation will be applied.

The Investor and Quanloop Usaldusfond enter into the Loan Agreement according to the Law of Obligations Act of the Republic of Estonia as follows: the Investor makes an offer to enter into the Loan Agreement for the term of 24 hours, the annual interest rate of their choice and the principal of one (1) euro, and Quanloop Usaldusfond may, if the proposal fits their need and expectation, accept to enter into the Loan Agreement with the Investor. With reference to the Law of Obligations Act of the Republic of Estonia, accepting the debt financing offered by the Investor, being the primary source of capital for Quanloop Usaldusfond, is not a licensed activity for the fund, and offering the debt financing to the fund the Investor is not a licensed activity for the Investor. No Act nor a Directive limit the number of Loan Agreements signed by Quanloop Usaldusfond, nor the total capital sourced.

Quanloop AS acts as the introductory service for the Investor and Quanloop Usaldusfond, ensuring the parties get familiar with each other before making and accepting an offer to lend money. Quanloop Usaldusfond does not in any way receive money from the public for the purposes of depositing or to receiving repayable funds in any other manner or does not make any public proposals to receive money from the public for the purposes of depositing or to receiving repayable funds in any other manner. The money transferred by the Investor is thereby a property handed over for the performance of the mandate for the purposes of § 626 of the Estonian Law of Obligations Act. The respective amount of money in the bank is, by its nature, a claim (against the bank) that Quanloop AS has acquired in its name but on behalf of the Investor and only with the purpose of using it for the performance of the mandate. Quanloop AS shall have the right and obligation to make transfers, deductions from and inclusions to the Investor's account on the Platform to perform the Investor's obligations arising from the General Terms, the Loan Agreement and other agreements entered into by the Investor. The Investor hereby irrevocably authorises Quanloop AS to debit and credit the Investor's account on the Platform as outlined in the General Terms, the Loan Agreement or any other agreement concluded via the Platform.

Who needs a licence to operate?

Estonian legal entities will need to obtain an activity licence from the Estonian Financial Supervision Authority (FSA) if they fall in the following categories of financial services:

  1. Payment and e-money institutions
  2. Insurance companies
  3. Pension funds
  4. Investment firms (or investment banking)
  5. Fund managers
  6. Credit intermediaries, creditors, and credit institutions

As mentioned above, Bondkick AS is a fund manager of Quanloop Usaldusfond. As required, Bondkick has registered its operation with the Financial Supervision Authority and may act as a limited partnership fund manager according to § 8 (2) of the Investment Funds Act of the Republic of Estonia.

None of the above describes the legal structure of Quanloop:

  1. Neither Quanloop AS nor Quanloop Usaldusfond offers any payment and e-money institution services according to the Payment Institutions and E-money Institutions Act of the Republic of Estonia.
  2. Quanloop AS is not a fund management company because it does not manage the assets of Quanloop Usaldusfond. The assets of Quanloop Usaldusfond are managed by Bondkick AS, the limited fund manager that registered its operation with the Financial Supervision Authority of the Republic of Estonia. The general partner of Quanloop Usaldusfond is Quanloop Group OÜ, a limited company registered in Estonia that must not hold a license to act as a general partner of a limited partnership fund, as is set in the Investment Funds Act of the Republic of Estonia.
  3. Quanloop AS does not in any way receive money from the public for the purposes of depositing or to receiving repayable funds in any other manner or does not make any public proposals to receive money from the public for the purposes of depositing or to receiving repayable funds in any other manner. The money transferred by the Investor is thereby a property handed over for the performance of the mandate for the purposes of § 626 of the Estonian Law of Obligations Act. Thus, Quanloop AS does not require a license according to the Credit Institutions Act of the Republic of Estonia.
  4. Quanloop AS does not lend money. Therefore Quanloop AS must not hold a creditor authorisation according to the Creditors and Credit Intermediaries Act of the Republic of Estonia.
  5. Quanloop Usaldusfond borrows money from the previously specified persons only on the Platform. Quanloop Usaldusfond does not offer to borrow money; instead, the offer to lend is made by specified investors without obligation to accept it. Thus, the assent to enter into the Loan Agreement is made according to the Estonian Law of Obligations Act and without any reference to the receipt of deposits from the public as outlined in the Credit Institutions Act of the Republic of Estonia.
  6. Quanloop Usaldusfond does not make an offer to sell its units, Quanloop AS does not make an offer to sell its shares, and Quanloop Group OÜ does not make an offer to sell its parts on the Platform. The information found on the Platform should not be considered an offer of securities to the public according to the Securities Market Act of the Republic of Estonia and as defined in Article 2(d) of Regulation (EU) 2017/1129 of the European Parliament and of the Council.
  7. Quanloop Usaldusfond lends money to the legal entities, which is not a licensed activity outlined in the Law of Obligations Act of the Republic of Estonia and the Creditors and Credit Intermediaries Act of the Republic of Estonia.
  8. Quanloop Usaldusfond does not lend money to the consumers, which would be a licensed activity outlined in the Law of Obligations Act of the Republic of Estonia and the Creditors and Credit Intermediaries Act of the Republic of Estonia and require authorisation.

Hence, Quanloop AS does not require a license to accept money to their clients' account, nor Quanloop Usaldusfond does not require a licence to borrow money from investors and lend it to legal entities nor the Investor does not require a license to lend money to Quanloop Usaldusfond.

Disclaimer: Some text on this website is purely for marketing communication. Nothing published by Quanloop constitutes an investment recommendation, nor should any data or content published by Quanloop be relied upon for any investment activities. Quanloop strongly recommends that you perform your own independent research and/or speak with a qualified investment professional before making any financial decision.