Legal basis: what the portal stands on
This page explains, with sources, which Lithuanian and EU laws underpin PrivatiPaskola.lt, why a loan between two individuals is not consumer credit, and where private lending crosses into regulated activity. This is an informational page, not legal advice.
Our role: an information-society service
The site is run by NET Partner OÜ (reg. no. 11299597, Narva, Estonia), and the service is provided to Lithuanian users under the EU freedom to provide services. We provide an information-society service — hosting and storing listings — under the Law on Information Society Services and EU Directive 2000/31/EC. We are a technical intermediary that stores user content, not its author.
A loan between individuals: the Civil Code
A deal concluded through the portal is a loan agreement under Articles 6.870–6.875 of the Civil Code. It is deemed concluded from the moment the money is handed over (Art. 6.870); the parties set the interest themselves (Art. 6.872); a court may reduce clearly excessive interest (Art. 6.37). The portal is not a party to the deal. A template — on the page loan-agreement template.
Why this is not consumer credit
The Consumer Credit Law and EU Directive 2008/48/EC govern consumer credit — where a lender, in the course of business, grants credit to a consumer. In a deal between two individuals neither side is a lender in that sense, so those requirements do not apply and the portal needs no Bank of Lithuania licence.
Where private lending becomes regulated
The line is not the amount but systematic, business-like activity. A one-off loan stays a Civil Code deal. But if a person lends for profit systematically to an open circle of people, that is lending as a business, requiring a licence. The activity of a peer-to-peer lending platform operator in Lithuania is also licensed and supervised by the Bank of Lithuania. That is why we are a classifieds portal, not such a platform, and our terms of use forbid systematic commercial lending offers.
Supervisory institutions
- Bank of Lithuania (Lietuvos bankas) — financial-market supervision, licensing of lenders and P2P-platform operators.
- State Consumer Rights Protection Authority (VVTAT) — consumer rights and advertising.
- State Data Protection Inspectorate (VDAI) — personal-data protection.
Related pages
- Terms of use — full service terms and payment.
- Loan-agreement template — how to put the deal in writing.
- Private loans — how the deal works.
- Privacy policy — personal-data processing.
Legal texts — e-seimas.lrs.lt and e-tar.lt. This page is informational and does not replace legal advice.