Rebuildingsociety focuses on repayments during slow month
In February, Rebuildingsociety received £60,965 in capital and interest repayments but did not conduct any lending or offer new loans to investors.
Last month, the peer-to-peer lending platform received £35,006 in capital repayments and £25,959 in interest payments and recovered £649 from default.
However, Rebuildingsociety did not lend any new public loans or add any onto its primary marketplace.
In total the P2P platform has lent 281 loans worth £16.04m to small- and medium-sized enterprises.
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“As a team we work hard to keep in contact with our borrowers, establish how the current economic situation impacts their business, and where possible offer assistance,” Rebuildingsociety said in a blog on its website.
“This assistance may include short repayment holidays or interest-only repayments. Amendments such as these to existing repayment schedules are only granted where a borrower specifically requests assistance and complies with our requirements.
“We’ve also been actively assisting businesses to gain access to the numerous government initiatives to support UK businesses.
“As a platform we are continuing to lend, but have significantly amended our credit risk processes to account for the current risks affecting businesses.”
Rebuildingsociety also focused on recoveries last month.