For the second consecutive month, originations on Bondora increased. Total originations rose by 4.7% to €3,114,157 in October. Once again, Estonian originations were the only loans originated by Bondora, but this continuous rise in performance makes it a sustainable option for Bondora for the time being.
![Estonian loan originations are going sky high.](https://www.bondora.com/blog/wp-content/uploads/image-181.png)
Interest rates did decline further, coming in at 33.5% compared to 35.7% last month.
![Loan origination by country – October](https://www.bondora.com/blog/wp-content/uploads/image-182.png)
Originations skewed toward higher ratings
Estonian originations skewed more toward B- and C-rated loans in October. C-rated loans grew by 3.0% to 33.3% of all originations, while B-rated loans grew to 8.3% from 3.2% last month. Meanwhile, interest rates remained consistent across C-, D-, and E-rated loans, falling within 1% of rates month-over-month. B-rated loans had the largest decrease in interest rates, falling by 1.8% to 19.0%.
![Loan origination by rating and country – October](https://www.bondora.com/blog/wp-content/uploads/image-183.png)
Average loan amount increases for the second month
The average loan amount for Estonian originations grew for the second month in a row. In October, originations averaged €2,357—up from €2,294 in September, indicating a 2.7% increase.
![Average loan amount – October](https://www.bondora.com/blog/wp-content/uploads/image-184.png)
Loan durations remained constant at an average of 56 months, which is the same as September, and still a month longer, on average, than in August.
![Average loan duration – October](https://www.bondora.com/blog/wp-content/uploads/image-185.png)
Once again, the longest duration loans of 60 months grew, this time to a total of 990 loans from 977 last month. As a result, 60-month loans account for 75.0% of all Estonian originations. The next highest percentage is for 24-month originations, which only accounts for 5.8% of all originations. It indicates that Estonian borrowers favor the most extended loan period.
![Loan duration – October](https://www.bondora.com/blog/wp-content/uploads/image-186.png)
Net income finds a middle ground
After a very up and down the previous two months of borrower average net income, October’s number settled right in the middle. An average borrower income of €1,648 is up 32.7% from September but still 39.3% lower than the average income in August.
![Average age – October](https://www.bondora.com/blog/wp-content/uploads/image-187.png)
Maintaining the trend, the average age of Estonian borrowers was once again 38-years old. This makes it the fifth month in a row for the level of consistency.
![Average net income – October](https://www.bondora.com/blog/wp-content/uploads/image-188.png)
Education
The only education category to fall in October was vocational school education, which accounted for 24.1% of borrowers compared to 25.6% in September. High school graduates continued to make up most Estonian borrowers, coming in at 41.1% of all borrowers.
![Education level – October](https://www.bondora.com/blog/wp-content/uploads/image-189.png)
Employment comes in strong
The ratio of borrowers with long-term employment slightly increased in October. Borrowers employed more than 5 years totaled 420—31.8% of all Bondora borrowers, while those employed up to 5 years totaled 502—38.0% of all borrowers. The only category to decrease was borrowers employed up to 1 year, which fell from 275 to 265.
![Employment – October](https://www.bondora.com/blog/wp-content/uploads/image-190.png)
Home ownership status
The number of borrowers living with their parents in October fell to 185, accounting for only 14.0% of all borrowers, decreasing 21.6% from September. Homeowners are still the most common borrower type, increasing slightly from September to 44.0% of all Bondora borrowers.
![Home ownership status – October](https://www.bondora.com/blog/wp-content/uploads/image-191.png)
Verifications increase
The ratio of verified originations fell for the second month. However, the decrease was minimal, with 91.0% of originations verified in October compared to 91.5% last month.
![Verification status – October](https://www.bondora.com/blog/wp-content/uploads/image-192.png)
Increased originations in October
Even amidst uncertain times, Bondora loan originations have increased while maintaining key origination metrics. This stable growth is how Bondora continues to provide people with a method of maintaining financial stability.
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