AMA with Aleksandr Lang

Is it common for the provision fund to be used?

We do not utilize our reserve fund until all our borrowers are capable of paying the interests according to the repayment schedule. The Provision Fund is formed to cover recurring interest payments to investors in case temporary defaults occur due to potential payments delays from the borrowing projects. To date, we have never used it for such purposes because all current projects perform correctly.

What is the zero point for a project to onboard ? Like very beginning before visiting it on site

Prior to being admitted on our platform, all borrowing projects undergo a rigorous selection process based on a risk-based approach which consists of several stages. At the first stage, all project owners are required to undergo a thorough due diligence procedure, as part of which we request all the relevant legal documentation, such as, for example, statutory documents, certificate of beneficiaries, extracts from an independent credit bureau, etc. In tandem, project owners and legal entities-borrowers undergo a thorough background check and AML assessment. As part of the onboarding process, borrowers fill out a due diligence questionnaire harnessing KYC and KYB best practices from the banking sector. It consists of around 40 questions of a different nature and allows us to get a comprehensive understanding of the borrowers and their track record, their experience in the industry, their source of wealth, etc.

Perhaps one of the most important aspects of our risk-based approach is a universal scoring model, where the emphasis is placed on the company's financial performance in terms of its ability to service the desired loan to mitigate default risks. As part of the financial due diligence, potential borrowers are requested to provide all available financial statements, including balance sheets, profit and loss and income statements. As a first step, we carefully assess the dynamics of the company’s financial performance, evaluating indicators like debt to equity ratio, working capital ratio, etc., to build an understanding of the borrower’s financial standing. Based on our scoring model, we understand early on if the project is a “no go” and discontinue the onboarding process

I'm curious about the Crypto Strategy (blog post from 01.03.) Would it be more about the blockchain technology to securely and transparently store and transfer digital information or is it more directed towards investment opportunities and how would they look like?

Firstly, our focus is on the convenience of investors to invest not only in fiat but also in crypto. We aim to provide our investors with the opportunity to invest using cryptocurrency and for borrowers' projects to raise funds for development in crypto. We will share more details with you in the near future. Let this be the icing on the cake.

Loses policy. How much time must happend without receiving the funding investments to declare a project as loses?

Let me explain a little bit more about this case. In the worst-case scenario, if a borrowing project hypothetically encounters problems with payments or becomes bankrupt, our investors will still receive their interest payments for the next 60 days from our provision fund while Maclear is seeking an appropriate solution with the borrowing project. After 30 days of defaulting on the payment schedule, we will send an announcement to our investors about the difficulties with the specific borrowing project. At this time, Maclear shall immediately initiate a soft debt collection process to resolve the problems resulting in delayed payments. After 60 days, Maclear will then execute the role/function of Securities Holder and initiate the enforced collection of the debt, including the enforced realization of guarantees and pledged property. We will receive funds and distribute them among participating investors in proportion to their investments. Additionally, Maclear conducts a very thorough risk assessment to minimize investment risks from the very beginning. This is done to prevent default cases and protect our investors.

For taxes, declare loses is better than having them and deny it. When a project won't pay in time, how much time is needed before use collateral? Will you hesitate or believe in company's reports before use collateral?

We permanently monitor our customers/borrowing project’s financial performance, check their reporting and P/L figures, so the potential problems can’t come unexpectedly. We provide continuous support to our projects throughout our partnership, enabling us to anticipate and mitigate any potential issues that may arise.

After which delay (in days) are we informed, that an interest was funded using the provision fund? Did all loan takers have payed the interest in time?

Investors will be notified on the same day they receive interest payments from our provision fund. However, we have not utilized our provision fund so far and also we maintain close oversight of our borrowers' repayment schedules to ensure their timely adherence.