Defaults and Bad Debts
As a lender on rebuildingsociety.com, you are lending to UK-based small- and medium-sized businesses. SMEs are vulnerable to many influences that can put a strain on their business and affect their ability to meet financial obligations, such as repaying a loan.
No matter how seasoned a lender, you are or what your level of professional experience is, you are likely to incur a default within your portfolio at some point in time. If you are new to P2P lending, your first default is likely to come as a shock, and may tarnish your impression of P2P lending. However, you shouldn’t panic, as defaults are not unexpected and can be managed.
We’ve put together this blog to help you understand more about what a default is, why it may occur, how you can manage your risks, and how we work to protect you so that when a default does occur, you know what to expect.
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17th Jul, 2017
Submitting a Loan Application
At rebuildingsociety.com, we appreciate how busy life can be as a business owner. That’s why we’ve tried to make our application process as simple as possible.
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13th Jul, 2017
Preparing to Take a Business Loan
“Give me six hours to chop down a tree and I will spend the first four sharpening the axe.” ― Abraham Lincoln
All businesses, at one time or another, will likely need to raise finance to grow or fill in a temporary gap in cash flow. Raising finance is easiest done by taking some time to first prepare both yourself and your business. Following some pointers and planning ahead can save you both time and money – and probably a lot of headaches…
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06th Jul, 2017
Voluntary Arrangements
As part of our service to our lenders, we undertake recovery action and legal enforcement on defaulted loan accounts. This is done on your behalf with the intention of recovering your funds. At certain times during this recovery process, we endeavour to give lenders a role to shape our recovery action and have their say in the acceptance or rejection of any repayment offers we may receive.
Such occasions include the submission of an Individual Voluntary Arrangement (IVA) or Company Voluntary Arrangement (CVA). This blog post will look a little closer at both instruments and discuss what lenders may want to look for in assessing whether those arrangements may be in their interests.
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