2012 has been a year in which we have recorded significant quality growth on the MYC4 platform. We started off the year with 1,154 active loans and currently we have over 3,700 repaying loans. Farming has been the biggest growth industry and women now hold the majority of all loans with 60 % of the active entrepreneurs on the platform being female.
In the process, the Outstanding Loan Balance (OLB) has doubled from €1.1 million in January to €2.2 million in December 2012. Over €4 million worth of loans have been uploaded for funding this year compared to €2.5 million in 2011. This is a remarkable growth in loan production for the platform from existing and new providers that came on board in 2012. The overall Portfolio at Risk above 30 days (PAR 30+) remained within the 5% range for most of the year.
The number one challenge in 2012 was obtaining a balance between loan production and the available liquidity on the platform. That notwithstanding, we achieved an overall funding success rate of over 90%. Any ideas or leads on how we can improve liquidity on the platform are always welcome.
We will be back in the first weeks of the new year with our Portfolio Performance Update for Q4 2012 as well as our outlook at 2013 in terms of the key challenges and opportunities ahead. Remember that the platform is always open for business – right now we have more than 200 open loans for African entrepreneurs looking for funding to grow their micro- and small businesses.
As we look at 2013 with optimism, kindly receive the best New Year wishes from the MYC4 Team.