investor.relations@levcredit.eu
Fueling Productivity, Maximizing Efficiency, Driving Results.

Who We Are.

  • Company Name:
    Lev Credit | Лев Кредит
  • Moto:
    “Financing for Every Pocket”
  • Tagline:
    “Fueling Productivity, Maximizing Efficiency, Driving Results.”
  • Licence:
    Non-Banking Financial Institution (NBFI)
    No.BGR00421 – registered with the Bulgarian National Bank (BNB)
  • Head Office:
    Shumen, Bulgaria | 8 regional offices | nationwide reach via digital and broker channels
  • Launched:
    Dec2019 (license obtained Jul2019)
  • Funding to-date:
    100% equity-financed (founders’ equity & retained earnings) – no debt
  • Staff:
    13FTE – lean, cross-trained; incentive scheme links compensation to portfolio quality & cash-yield
  • Active Borrowers:
    1500+; cumulative principal funded>BGN8.4m; originated loans > 9300
47.01%
High Risk Buffer:
47.01% of loan portfolio is secured by real estate at LTV < 50%
Contact Information:
www.levcredit.bg - Bulgarian Client Website
www.levcredit.eu - Investor Relations Website

Executive Summary.

Overview

Lev Credit is a licensed NBFI (since July 2019) providing payday loans, unsecured consumer loans, secured consumer loans and secured business loans.

Our competitive edge is operational productivity: an efficient branch network, strong cash-flow generation, disciplined cost control and proprietary—but straightforward—software that automates redundant manual work.

Operating both offline (8 offices) and online, we are strategically positioned to scale nationwide — and soon, internationally.


Expansion Plans
Entering Romania with microloans and credit lines up to RON 20,000, leveraging our proven, high-productivity model for consumer & payday loans in Bulgaria. Plans to enter the secured lending field once brand & licence footprint mature in a few years

Our Lending Solutions & Portfolio Breakdown.

  • Payday Loans
    • Short maturity: 14 or 30 days, max amount BGN 1,000.
    • Often promoted with 0% introductory interest to attract new clients.
  • Installment Loans
    • Weekly, bi-weekly, or monthly payments up to 24 months, max amount BGN 5,000.
  • Auto Loans (Leasing & Reverse Leasing) - This product and its business model (origination network) is still under development
    • Monthly annuity payments up to 60 months, max BGN 100,000; max initial LTV = 50%./li>
    • Will be available to both individuals and businesses.
  • Secured Consumer Loans
    • Monthly payments (annuity or interest-only), maturity up to 120 months, max BGN 100,000.
    • Real estate collateral - 1st lien mortgage; max initial LTV = 50%.
  • Secured Business Loans
    • Monthly payments (annuity or interest-only), maturity up to 120 months, max BGN 100,000.
    • Collateral: 1st lien mortgage on real estate and/or movable assets (farm equipment, machinery, etc), max initial LTV = 50%.
  • Share of Portfolio

The Market Opportunity.

Metric / Driver

Bulgaria

Romania
Population ~ 6.5 m ~ 19.1 m
Adults with limited bank credit (Underbanked) ~ 1.0 m
~ 15%		 ~ 5.0 m
~ 26%
Licensed NBFIs 249 162
Population / NBFI 26.1k 117.9k
Secured NBFI market size €3.28 bn
(mid-2024)		 €7.62 bn
(EOY 2023)
Unsecured NBFI market size €3.07 bn
(mid-2024)		 €2.05 bn
(EOY 2023)
Unsecured NBFI market size / Population €472 €107
GDP per capita (PPP) $33,142
(2023)		 $45,777
(2023)
Max APR 64.75%
(1H2025)		 2 329.90%
LevCredit share 0.1% -

Bulgaria vs Romania – Unsecured NBFI Market Comparison


Macro tailwinds (both countries)


Rapid wage growth
9%
CAGR 2017-24
10%
CAGR 2017-24
EU Recovery & Resilience funds fuelling SME investments
Rising real-estate values strengthen collateral buffers
7%
CAGR 2017-24
8%
CAGR 2017-24
Digital ID & e-signature adoption lowering onboarding friction


Key Facts:

For loans up to RON 5,000:
Max nominal annual interest rate: 360.00%.
Max APR: ~2329.80%.
For loans from RON 5,001 up to RON 10,000:
Max nominal annual interest rate: 288.00%.
Max APR: ~1832.71%.
For loans from RON 10,001 up to RON 20,000:
Max nominal annual interest rate: 216.00%.
Max APR: ~887.69%.

Competitive Landscape (Bulgarian Market).

Factor / Peer Type LevCredit Banks Large multi-product NBFIs
Decision time < 30 min for both secured & unsecured loans 1–7days for unsecured loans
7-14 days for secured loans		 < 30 min for unsecured loans
24–72h for secured loans
Collateral strategy Core focus, since July 2024 Yes, but slow Rare
Cost per acquisition Negative for secured loans, market average for unsecured Positive always Positive always
Impairment loss (secured) 0% 1–2% 2–6%
Equity funding 100% 10-15% (n/a) 10–40%
National footprint 8 offices + online presence + business affiliates + independent broker network 400 branches + online + broker network 30–50 branches + online
Scalability High
(process-driven)		 Bureaucracy
Small room for expansion		 Marketing-driven

Operational Platform, Technology & Underwriting Approach.

Proprietary Workflow Software
Fully in-house, managing end-to-end operations, from lead capture to loan servicing. Currently expanding this software for online origination of consumer loans in Bulgaria & Romania and third-party integrations. Single code-base built in-house; automates KYC, registry checks, contract generation, repayment reminders.
Lean Process Design
One credit officer can underwrite ≈ 250
secured loans a year (sector avg. ~40).
Fast Processing
Applications reviewed in under 30 minutes; secured loans originated in under 3 working days, far ahead of the 2-week industry average.

Timeline & Milestones.

Mar 2019
Company registered (UIC 205551187).
Jul 2019
NBFI license approved (No. BGR00421).
Dec 2019
Operations begin in Shumen (1st branch). (BGN 7,400 originated in the first month)
Apr 2020
2nd branch opened in the city of Targovishte
Jun 2020
3rd branch opened in the city of Razgrad
Sep 2020
4th branch opened in the city of Dobrich
Nov 2020
Surpassed BGN 1M in cumulative loans issued. (COVID resilient growth)
Feb 2021
5th branch opened in the city of Rousse
Aug 2021
6th branch opened in the city of Varna
Dec 2023
7th brand opened in the town of Byala, Rousse Province
Jan 2024
Surpassed BGN 5M in cumulative loans. (5x since 2020)
Jul 2024
Launched nationwide secured loan origination strategy. (~40% of new volume is secured)
Dec 2024
Initiated expansion into Romania (regulatory prep, law firm retained, software localization). (Licence dossier drafting)
Jan 2025
Proprietary client management system completed.
Feb 2025
Active secured loan portfolio exceeds BGN 500K; actual CPA remains negative.
Mar 2025
Cumulative collected cash surpassed BGN 10M
May 2025
8th branch opened in the town of Isperih, Razgrad Province
September 2025
“Leu Credit IFN” S.A. is secured and incorporation is initiated

Operational Highlights


  • Near-zero liabilities, robust free cash flow.
  • Over 1,000,000 BGN in active principal, 10.93% of which secured, as of March 2024.
  • Over 1,500,000 BGN in active principal, 41.26% of which secured, as of April 2025. (50% YoY overall growth)
  • Maintained a 0% impairment loss on secured consumer / business loans.
  • Roughly 1,870,000 BGN in active principal, 47.01% of which secured, as of September 2025

Team & Expertise.

Flat hierarchy
Five executives sit in same office with loan officers, leading to quick decisions and zero silo friction.
In-House Software Developers & Legal Advisors
Provide flexible, fully integrated systems and bulletproof contracts.
KPIs tied to cash-collection
Efficiency, not volume alone → portfolio quality first.
Future-Focused
Committed to continual operational improvements, product refinements, and staff development.
Visionary Management
Leading a strategy of rapid regional expansion (Bulgaria first, now Romania).
Audit & Control
External audit, conducted by an independent & licensed audit firm.
Highly Effective, Productive Staff
Low turnover; key team members have been together since inception, ensuring continuity and deep product knowledge.

Delinquency Management & In-House Recovery Strategy – Unsecured Loans


Lev Credit employs a structured and fully internalized collections and recovery strategy for its unsecured loan portfolio, setting it apart from many competitors in the Bulgarian non-banking financial sector. Unlike institutions that offload defaulted portfolios to external debt collection agencies, Lev Credit retains full control over the entire recovery process from start to finish. This approach enables the company to maintain a consistent borrower experience, protect brand reputation and maximize financial recoveries.

Risk Management - Secured Loans.

Risk Buffer - Assuming 0% Property Appreciation

Outstanding Principal
Risk Buffer
LTV (Forelcosure Procedure Expenses Included)

Funding Requirements & Terms.

Objective
Raise capital to exclusively fuel rapid expansion of the secured loan portfolio in Bulgaria.
Use of Funds
  • Increase lending capacity for real estate–secured consumer and business loans in Bulgaria.
  • Scale marketing channels (online + offline), maintaining the negative CPA advantage.

Why Lev Credit?.

Proven model with extraordinary productivity metrics and near-zero staff turnover.
0% impairment loss on secured loans, which represent 40% of our loan portfolio, thanks to the strong legal + underwriting synergy.
Immediate scalability with negative CPA, robust free cash flow, and minimal market share (huge upside).