Frequently asked questions

About investing in a project

Can you describe the process step by step?

Here we lay out how your money gets to the company and then back to you.

1. Request

  • A company files for a loan at our local partner.
  • The local partner assesses the request (purpose, availability of collateral, past success, etc.)
  • If the request is honoured the local partner forwards the details to Lendahand. We make our own assessment and if needed ask for more information.
  • Lendahand puts the loan request on the website.

  • 2. Crowdfunding

  • Funders can choose the amount they want to lend.
  • Once there are enough funders, the money is wired to the local partner on the first day of the following month.
  • The local partner provides the loan to the company. (Often the partner already pre-funded the loan.)

  • 3. Redemptions

  • The entrepreneur reimburses the loan in equal instalments plus interest every six months.
  • The local partner sets aside a part of the interest payments for organisational costs and hedging of risks.
  • If the company cannot pay back in full then our local partner can claim the collateral. Our local partner also holds a reserve to pay back our funders, even if the entrepreneur defaults. If the reserve is not sufficient our local partner's his equity capital will be addressed.

  • 4. Payments

  • The local partner transfers the redemptions and interests to Lendahand.
  • We allocate these to the wallets of the relevant funders.
  • You can choose to lend (a part of it) again or to have it transferred back to your bank account at no cost.
  • Choose a project

    What does it cost to invest via Lendahand?

    There are no costs involved for subscribing on our platform nor for providing loans via your account if you pay via iDeal. The repayment process is free of charge as well. Only if you pay with creditcard, transaction costs will be charged: 0,6% + €0,20.

    How can I pay?

    At Lendahand, you can pay with iDeal for free (you need a Dutch bank account). Also, you can pay with creditcard: VISA and Mastercard. For this, we need to charge transaction costs: 0,6% + €0,20 per transaction. 

    NB: if you want to invest more than EUR 2,500 with your creditcard, it is necessary to send a copy of your passport to

    How should I incorporate my investments in my tax report?

    The money lent to entrepreneurs via the Lendahand platform should be taken into account in box 3 for private investors.

    For business accounts the return on money lent is charged with company tax.

    What is the minimum and maximum amount I can invest at Lendahand?


    At Lendahand you can invest from EUR 50 upwards. Higher amounts will be in multiples of 50. During the first 2 working days after your first payment, your investments are limited to EUR 2,500. Once your account has been validated (normally within 2 working days), there are no more limitations. However, if you want to invest more than EUR 2,500 with your creditcard, it is necessary to send a copy of your passport. 


    Indication: the maximum total invest per person in running projects amounts EUR 80,000. Lendahand recommends to only invest a responsible part of your funds in crowdfunding (max 10% of funds available). Furthermore, we strongly suggest not to invest with money borrowed. 

    Choose a project

    Can I also fund loans with a business account?

    Yes. When creating an account at the Lendahand website you can select either 'private' or 'business'. You will need to supply a KvK-number and company name when creating a business account.

    Create business account

    Do I get a contract if I invest in an entrepreneur?

    The legal terms for the loan are part of the terms and conditions. You will get an e-mail with the confirmation of your loan. This email can be regarded as a contract.

    What if there is not sufficient funding for a project?

    Suppose that a crowdfunding campaign does not deliver the required loan amount. In that case you get your committed investment back. So far this situation has not occurred. We always put extra promotional efforts into the projects that need it.

    Who is the counterparty when I make an investment?

    Legally speaking the local partner in the country of your selected entrepreneur is the counterparty. These solid financial institutions cover credit risks and defaults. They are granting the loan towards the entrepreneur as well.

    Can I also lend directly towards a company?

    Yes. From oktober 2016 onwards it is possible to invest directly in companies, without a local partner being the counterpart. With a direct loan the company is consequently the borrower. Generally, lending directly comes with more risks than lending through a financial institution (local partner). This is because the local partner spreads their risks: they have many customers, different regions, are active in different sectors and their loans have different maturities. A company has a more concentrated risk: it is often active in 1 sector and offers a limited amount of products. As the risk that comes with direct lendings is generally higher than an investment through a local partner, the interest is also higher: on average 5-8% on an annual basis. To provide more insight in direct lendings we make use of independent parties for analysis. These results can be downloaded on the project detail page. The analysis can be used for a estimation of the risks, it is however no form of investment advice.

    From which countries can I invest in projects via Lendahand?

    From every country in the world, except: Afghanistan, Angola, Bosnia and Herzegovina, Botswana, Brunei, Canada, Gibraltar, Guatemala, Guernsey, Guyana, Iran, Iraq, Jersey, Laos, Liechtenstein, Marshall Islands, Montserrat, Myanmar, Nauru, Niue, North Korea, Panama, Papua New Guinea, Syrië, Uganda, United States, Vanuatu, Virgin Islands British, Yemen. 

    NB: in some countries certain legal requirements may apply to Investors. It is your responsibility to ensure that such requirements are met.

    In which currency can I invest?

    At Lendahand you usually invest in euros. You pay in euros and get repaid in euros. The risks of currency fluctuations are therefore hedged by our local partners.

    Starting May 2017 we will also offer projects in which you can only invest in dollars. The minimum investment is 50 dollar. When making the transaction on the website – in case of dollar transactions, this is only possible with credit card – you will see that the payment is 50 dollars. However your credit card will charge euro’s (unless a dollar account is connected to your credit card). Meaning a separate (dollar) bank account is not needed to be able to invest in dollar projects.

    Refunds also take place in dollar. The repayments will be deposited in your dollar wallet (for each currency you will have a separate wallet). You can then choose to reinvest in dollars or have the funds transferred back to your (euro) bank account.

    Please note that which each conversion of euro to dollar and vice versa, your bank will charge a fee in the form of a slightly less favourable exchange rate. For now, you receive a fixed interest rate of 3,5% (annually) on dollar projects.

    About (re)payments and interest

    How much interest do I get?

    The annualized interest rate varies from 3-6%. If the maturity of the loan is longer than 24 months, the interest rate will be increased by 0,25%. 

    On dollar loans (available since May 2017) a fixed interest rate of 3,5% is paid annually.

    How do I get the proceeds back on my bank account?

    Everyone who provides a loan has a Lendahand account: My Lendahand. The money that SMEs pay back to local partners will be transferred to your account ('wallet'). You can then choose to lend this money again. But you can also opt to have it transferred to your bank account. This does not cost you extra.

    How is the interest being calculated exactly?

    The loans are paid back in equal amounts on a semi-annual basis. For instance, a loan with a maturity of 12 months will be repaid in 2 amounts after 6 and 12 months, including interest. Naturally you receive interest on the outstanding amount. In the next example we show how the redemptions and interest payments are calculated.

    Suppose you invest € 1,000 in project A which is interest-bearing as of January 1st, 2015. The loan has a maturity of 12 months and pays an annualized interest rate of 3%.

    - On June 30th, 2015 you receive the first repayment of € 500. You also receive an interest payment of 3% over € 1,000 for 6 months (€ 15). The total payment for the first period is € 515

    - On December 31st, 2015 you receive the second repayment of € 500 and an interest payment of 3% over the outstanding notional of (€ 1,000 - € 500) for 6 months (€ 7.50). The total payment for the second period is € 507.50

    Are the interest rates the effective yearly interest rates?

    Yes. The effective interest rate at Lendahand varies from 3-6% on an annual basis and is paid on the notional amount that is lent to the local entrepreneur. You will, of course, not get interest on the amount that has already been repaid (every 6 months).

    What is the maturity of the loans Lendahand offers?

    These are always 6, 12, 18, 24, 30, 36, 42 or 48 months.

    Can a loan be repaid early?

    Yes, that is possible. In some cases the entrepreneur can choose to pay back the loan early. For example when the business has been growing faster than the expectations and the loan is not needed anymore. When a loan is repaid early, you get the remaining amount of the loan back together with the built up interest. You also receive 1,5% interest on the early payment. Early repayments are not possible in the first 12 months of the loan.

    When does my interest start?

    After the project is fully funded, your interest will start building up on the first day of the following month. For example; a project is fully funded on the 17th of August and the interest will start on the first of September.

    When do I receive my repayments?

    You will receive your repayments on your wallet the moment the money - transferred by the Local Partner - is received on the designated account. Normally these payments will be put on your wallet in the first 10 working days of the next month. For example: for repayments regarding the period until September you can expect the amount within the first 10 working days of October.

    About risks and security

    What are the risks if I lend money to entrepreneurs via local partners?

    Our local partners cover the risk of currency exchange rates and defaults of loans. Our partners have financial reserves for this purpose and it is also possible to claim their equity if needed. Funders therefore do not so much run risk on the individual loans but rather on the local partners. A local partner could, in the worst case, go bankrupt because of credit risk (a local partner selects a lot of entrepreneurs with a bad credit profile), currency exchange risk (large fluctuations in currency exchange rates can lead to large financial consequences for local partners), fraud risk (one or more employees of a local partner can commit fraud), operational risks (when management is unable to generate sufficient profit for a long time or realize at least a break-even situation), political and regulatory risk (changes in political sphere or regulations can lead to an environment where foreign investors cannot retrieve their money) and natural disaster or epidemics (which could cause a lot of local entrepreneurs to be unable to repay their loans).

    There is also some operational risk at Lendahand. For example if Lendahand is not able to find new shareholders to finance their activities. In that case Lendahand will handle outstanding loans as good as possible, but the influence to handle non-repayment of a local partner legally declines in this scenario.

    How does Lendahand minimize the risks?

    Lendahand has very strict rules for financial enterprises in relevant countries to become a local Lendahand partner. 

    Every local partner must hold to our social mission and work with us to supply loans as cheap as possible. This ensures that local entrepreneurs have access to affordable financing which allows them to grow their business. A local partner must also have a 'track record'; they must have proven themselves as mesocredit provider for SMEs. This means for instance a solid credit portfolio and enough buffers and equity to compensate for unexpected downturns. We also check the organizational structure of the partner and how robust their (internal) procedures are. Finally, the loans that a local partner receives via Lendahand must be in proportion to the total balance of that partner. A healthy balance between effectuating influence and being independent is crucial. If you would like to receive more information on the financial indicators that we employ, please contact us via

    When currency exchange risks become too high for a local partner Lendahand will urge a local partner to cover these risks. In some scenario's the local partner is contractually obliged to comply with these demands.

    Does Lendahand provide guarantee on the loans?

    No. Our local partners take care of the repayment, even if (some) entrepreneurs are unable to do so themselves. If the local partner is for some reason unable to repay then there is a chance of partial or full loss of your money. For this reason Lendahand only selects financially solid partners based on strict criteria.

    Does Lendahand have a license or exemption?

    Because of Lendahand's fast growth we have submitted a application for a license at the AFM in September 2015.

    Lendahand uses an exemption from an approved prospectus that is available up to EUR 2,5 Million per year. 

    How safe are my personal details?

    We adhere to strict safety requirements with regards to private and payment details. All sensitive data is sent through an encrypted connection (https). Lendahand's servers are located in data centres that have the ISO certificate 27001:2005, a standard for information security. For optimal security the software and systems are periodically checked.

    What happens if the local currency devaluates?

    Our local partners bear the exchange rate risks. We settle the loan, redemptions, and interest payments in euro.

    Does Lendahand use a third foundation fund?

    Lendahand works with LemonWay, a regulated payment service provider. Since LemonWay is a French company there is no 'Stichting Derdengelden' as such. However, LemonWay works in a similar manner and has a license from the French ACPR (Autorité de Contrôle Prudentiel et de Résolution). Your money will be deposited on a protected and secure bank account until the project you have invested in has been fully funded. LemonWay in no way has access to these funds. Once the project is fully funded, the money is transferred to the local partner in question.

    What happens with my money if Lendahand goes bankrupt?

    If Hands-On BV (containing the brand name Lendahand) would go bankrupt trades between Lendahand and payment service provider LemonWay would cease immediately. LemonWay will then transfer the funds in your personal wallet to your bank account (Note: if at this time the project you have invested in has been fully funded and the money has thus been transferred to the local partner, these funds will not be transferred back to your bank account). LemonWay will then in consultation with a trustee handle all repayments between the investors and investees up until the final repayment of the last project has taken place.

    Additionally, Lendahand is part of the investor compensation scheme (ICS). This scheme aims to compensate individuals and small businesses who have trusted money and or financial instruments (such as notes or options) to a licensed bank, investment firm or a financial institution in case the financial firm is unable to meet its obligations arising from claims related to the investment service. The ICS guarantees an amount of up to EUR 20,000 per individual per institution. For more information, go to

    Why is my money going to a payment service provider?

    As part of the AFM license for investment firm it is required that operational activities carried out by Lendahand (maintaining the website, contracting of local partners, legal issues, etc.) are strictly separated from financial transactions (payments made through the website). LemonWay takes care of the payments. This collaboration offers you more security, since your money is placed on a protected bank account immediately after you have made your payment.

    What happens when LemonWay goes bankrupt?

    The money of investors already on the (shielded) bank account of LemonWay will not be part of the bankruptcy. Bank BNP Paribas will then handle the case. Money outstanding with Local Partners will be handled by a to propose curator.

    What happens when a local partner goes bankrupt?

    When a local partner goes bankrupt, there will be a chance that you lose (part of) the amount you lend. Obviously Lendahand will try to recover outstanding payments, but the success rate will be limited in such situations. For the investor there is no possibility to take action against the financial institution. From a legal point of view the local partners are separated, therefore it is recommendable to spread loans across different local partners.

    About entrepreneurs requesting for a loan

    What interest rate do entrepreneurs pay?

    We want to be the cheapest alternative for the companies that need funding. Providing mesocredits to entrepreneurs in often rural areas is a very labour intense process. It is very much comparable with the cost structure of microcredits. A huge number of loans with a relatively small size puts quite some administrative pressure on local partners. Also, these loans have to be monitored and obviously repayments have to be collected at the right time at the right place. Furthermore, partners have to pay local taxes and they have to take a provision at their balance sheet for possible non-repayments.

    Lendahand uses a small margin (3 to 4%) for operational expenses, such as optimisation of the website, legal expenses, and marketing. When volumes grow significantly we should be able to lower our margin.

    Since our SMEs do not have access to micro credits or bank loans, they often need to borrow from 'loan sharks' that may charge more than 100%. Even if they had access to micro credits, they would still be paying 30-50%. According to the New York Times (2010), the global average interest rate for microfinance loans is 37%.

    Choose a project

    Which criteria should entrepreneurs comply with?

    Our local partners always screen the applicants for a loan thoroughly. At least the following criteria have to be fulfilled during the initial phase:

    -the applicant must be of good moral character as evidenced by good standing in the community, association or organization of which he is a member;

    -viable: at least 3 years in operation with a clear proof or indication of sustainability

    -profitable: Will be able to generate income to repay the loan. The business should show profitable operations for the last 3 years;

    -minimum compliance to legal requirements such as payment of required taxes, permits and the likes;

    -absence of any pending case involving sum of money, non-payment of loan; non-compliance to legal contracts and involvement in illegal activities;

    -has verifiable experience in debt servicing (no past due loan with any private or government lending institutions or banks);

    -socially relevant: the project offers clear and solid benefits to its stakeholders, such as: employment generation, care for the labourers and workers, payment of just wages and taxes, adherence to the principles of fair trade, care for the environment, concern for the community at large.

    Our local partners will never finance the following projects:

    -projects that will cause harm to people and the environment;

    -projects that are illegal and immoral;

    -projects that employs children younger than 16 years of age.

    Choose a project

    Which entrepreneurs can ask for a loan via the local partner?

    Small and medium sized enterprises, 2-100 employees, in the area of farming, retail, wholesale, production or services. Applicants should have a 'moral compass' and have to prove they want the best for the enterprise, people, the community and the environment.

    Choose a project

    About local partners

    Who are the local partners of Lendahand?

    These are so called NBFI's, Non-Bank Financial Institutions: financial institutions without a banking license that deliver financial services and are usually under supervision from a local or national supervisory institution.

    Which criteria do local partners have to meet to cooperate with Lendahand?

    Every local partner must hold to our social mission and work with us to supply loans as cheap as possible. This ensures that local entrepreneurs have access to affordable financing which allows them to grow their business. A local partner must also have a 'track record'; they must have proven themselves as mesocredit provider for SMEs. This means for instance a solid credit portfolio and enough buffers and equity to compensate for unexpected downturns. We also check the organizational structure of the partner and how robust their (internal) procedures are. Finally, the loans that a local partner receives via Lendahand must be in proportion to the total balance of that partner. A healthy balance between effectuating influence and being independent is crucial. If you would like to receive more information on the financial indicators that we employ, please contact us via

    Are these local partners commercial companies or social enterprises?

    One of the most important criteria Lendahand has with regards to local partners is that they must have a social mission. When commercial purposes are of main importance an institution will not be considered for a partnership with Lendahand.

    Do local partners investigate social impact of the provide loans?

    Yes. Even though research on the impact of loans is very time consuming our local partner on the Philippines, NPFC, executes a yearly impact study. Apart from that we ask all our partners for an update of every loan when it has been completely repaid. Finally, Lendahand also executes their own research on the impact of loans. 

    Do your local partners use pre-funding?

    Yes, usually the local partner pre-funds the loan. That way the company has access to the money before the loan amount is raised on our platform. This is important since many small companies request a loan when they need the money on short notice. For instance, they receive a large order and need to hire more people. Obtaining a loan through crowdfunding takes some time and that is why our local partners pre-fund the loan.

    About Lendahand

    What is Lendahand meso credit?

    Meso credits revolve, just like micro credits, around self-sustainability. After all, the entrepreneur does not get the money for free but needs to pay it back with interest. This way the entrepreneur stays as independent as possible.

    SMEs often do not have access to meso credits. That is why we offer them with a fair interest rate. The funder receives an attractive fixed interest rate of 3%. 

    Choose a project

    What is the effect of meso credit?

    The best growth engine of any economy is a strong middle class. With a meso credit you provide entrepreneurs valuable capital which leads to the creation of jobs. Hence more people can generate an income,to provide for their families and send their kids to school. But the impact is even bigger. The whole community benefits as employment and economic growth are stimulated. More resources will become available for schools, healthcare, and development.

    In emerging countries the small and medium enterprises sector is referred to as the missing middle: these companies often do not have access to financing. That is why they do not have the means to buy the required machinery or to hire personnel.

    If you provide a loan via Lendahand, you help these companies grow and the communities grow.

    How is Lendahand different from microfinance institutions?

    Micro credits are mainly for micro businesses that undertake simple and comparable business activities. You can think of a market stall, breeding poultry, or small-scale trade. These are often loans with standard terms (amount, maturity, etc). Microfinance institutions do not have the capability to assess larger companies that have more employees, revenues and assets.

    Meso credits is about customized loans. That's why we work together with local Lendahand partners that are specialized in financing SMEs.

    Choose a project

    What is the remuneration policy of Lendahand?

    Lendahand has a payment policy based on the Law remuneration policies of financial undertakings. The policy applies to all employees of Lendahand and aims to ensure that rewards do not result in undesirable risks or behaviour with regards to the specific services for affiliates and or regarding the soundness of Lendahand.

    Lendahand pays all employees a fixed monthly income, which is not dependent on targets. The management of Lendahand earns an average income of 40,000 euros gross per year (2017).

    We do not work with guaranteed variable remuneration.

    Decision on remuneration policy
    The remuneration policy is drawn up by the management. Because Lendahand is a relatively small enterprise a remuneration committee will not be set up. Also, a Supervisory Board has (yet) to come. For that reason, the remuneration policy is aligned with the Compliance Officer.

    Adjusting policy
    The remuneration policy shall be reviewed at least once a year to determine whether the policy meets the requirements of the management, the applicable laws and regulations and the interests of the investors. The types of remuneration that can encourage undesirable behaviour will be examined as well as how the remuneration policy provides for appropriate action. If necessary, the assessment can be done more often.

    Why Lendahand?

    We think the best stimulus for the economy is a strong middle class. Even in upcoming countries small and medium sized enterprises (SMEs) should be able to contribute to economic growth. If employment increases this will lead in most cases to a decrease in poverty. Which in turn leads to better healthcare and education. The problem is that SMEs in upcoming countries often do not have access to (affordable) financing. Banks usually only serve big companies. They have demands that relatively small enterprises cannot meet. For a lot of microfinancing institutions these companies are too big and complex. That is why Lendahand offers mesocredit via crowdfunding

    In which countries does Lendahand provide loans?

    At the moment in Colombia, the Philippines, Ghana, Zambia, Uganda, Georgia, Mongolia, India, Kenya and Cambodia. Every year we add a few countries to our portfolio.

    Choose a project

    What is the competitive advantage of Lendahand?

    -Lendahand provides mesocredit (starting at $1,000), not microcredit (maximum of $1,000)

    -Lendahand funds loans, not donations or stocks

    -Lendahand pays interest on loans (3% or 4% on annual bases)

    -Lendahand is only active in upcoming economies, therefore not in the Netherlands nor in developing countries.

    Choose a project

    What is the business model of Lendahand?

    Our local partners pay an interest rate of 7 or 8% to Lendahand. Consequently we pay 3 or 4% to our funders. The other 3 or 4% is our gross margin. In 2016 our margin was 3.3%. In 2017 our margin is maximized at 4%.

    Is Lendahand a member of Branchcooperation Nederland Crowdfunding?

    Yes. Lendahand is member of the branch association 'Nederland Crowdfunding'. After a thorough internal audit we have been granted a membership.

    How does the legal structure of Lendahand work?

    Legal structure since the obtained AFM-License on the 9th of September 2016 (on our website it is always indicated per project which Terms and Conditions apply):

    To make investments via Lendahand possible debt instruments like bonds are issued to the crowd (also called lenders or investors). The provider of the debt instruments to the crowd is called an ‘issuer’, at Lendahand these are the financial institutions that finance the Small and Medium Enterprises (SMEs) in emerging countries. Though in some cases the entrepreneurs on our platform raise capital themselves directly on our platform. Issuers only get access to the Lendahand website for projects when they comply with the admission requirement and quality standards beforehand. This includes the acceptance of the conditions for using the platform.

    The crowd is able to select one or more projects (propositions) that he/she can finance by purchasing bonds (or similar instruments) worth 50 euro each. Once the payment of the investor is successful, the purchase agreement is established. This agreement is entered under the condition precedent that the project (the proposition) will meet enough registrations. Investors accept the Terms and Conditions in which the purchase agreement takes part. Once the proposition is financed fully, the condition precedent is met and the bonds are issued to the investors who have registered to the respective proposition.

    Legal structure prior to the obtained AFM-License:

    Lendahand Finance BV issues bonds (securities) to lenders (the crowd). In this way, Lendahand Finance BV invests collected money through the equity of our affiliated partnership with loans to our local partners abroad. The operational activities of Lendahand (website, marketing, IT) are part of a separate entity: Hands-On BV.

    What should I do if I have a complaint?

    Complaints can be sent through email (, by phone (+ 31 10 717 18 15) or with the chat function on the website. E-mails are answered within one weekday and possible future steps will then be explained as Lendahand will put in maximum effort to take away the discontent. All communication between Lendahand and the lender will be done through the e-mail address saved in our system unless it is decided differently. Complaints will be saved in a digital archive to make them reproducible at all times. Complaints are reviewed by the Dutch law and the Terms and Conditions.

    How can I unsubscribe?

    If you want to stop lending with Lendahand and unsubscribe at our platform, you can send an e-mail to: After the last payment at your bankaccount, your account will be deactivated.  

    What is LemonWay?

    LemonWay is a regulated payment service provider located in France. The company was founded in 2007 to offer innovative solutions regarding secure payment, banking, credit card and the internet. Since the 24th of December, 2012 LemonWay is recognized by the ACPR (Autorité de Contrôle Prudentiel et de Résolution) in France with the Inter Bank Code (IBC) 16568. LemonWay is officially registered in the Netherlands with the Dutch Central Bank. LemonWay offers payment solutions for crowdfunding platforms, marketplaces, e-commerce sites and mobile payments.

    What does it mean to be regulated?

    Placing the projects (propositions) on the Lendahand website is an AFM-regulated activity. Lendahand also complies with the capital requirement set by De Nederlandsche Bank of EUR 125.000.

    Lendahand facilitates the offering of the bonds or financial instruments on the Lendahand website in accordance to the Securities Giro Act (SGA). Lendahand as an authorized investment firm will keep independently a collective deposit in the sense of the SGA whereby every issue of bonds creates a separate collective deposit.

    In this structure the bonds of the issuers (often the local partners) become inserted and held in the concerned deposit. These pieces qualify as SFA-conform kept financial instruments which have been separated from the assets of Lendahand and therefore are protected as such. The issued bonds by the crowd are always excluded from a possible bankruptcy of Hands-on BV (which carries the brand name Lendahand).

    The offerings of the issuers themselves are not supervised by the AFM. Therefore a warning banner is shown on some pages of our website. This banner only informs visitors about the fact that the offering on the website are exempted from the obligation to publish a prospectus approved by the AFM. Lendahand and the issuers we work with, make use of this exemption prospectus obligation that applies to EUR 2.5 million per issuer per year.