Did you Know: We Monitor all Active Loans

Our Did You Know series highlights features, aspects and information about the platform that may have passed you by.

When a loan auction is completed, rebuildingsociety.com staff get to work behind the scenes on ensuring that it’s as successful as possible for all parties involved. A huge element of this involves carrying out ongoing monitoring of the active loans on our loanbook.

We focus our energy on this in order to spot any potentially adverse information regarding a business, and pick up on payment trends that may signal either an improvement or decline in the strength of a business. By keeping an eye on this information, we are able to contact the borrower to notify them of information around their business that they may not know about, and we can get in touch with them to see whether they need any assistance or help during what may be a challenging time.

Our monitoring of businesses is ongoing and is made possible by a third-party business data analytics service. All active loans are monitored through this service and changes to the businesses are brought to our attention on a daily basis.

On many occasions, where a County Court Judgement (CCJ) is filed against a business, the business directors themselves are unaware, and so our monitoring of their business allows us to alert them to the adverse information in order that they can adequately respond and take action to protect their business and credit scores.

Aside from this third-party monitoring, we also actively engage with the borrowers to find out more about how their business has been doing and whether they expect any challenges, have faced any recently, or whether they are in need of particular assistance to help their business grow. Unfortunately, not all businesses respond to our engagement, but where they do we post the updates for lenders on the Loan Updates tab of each loan, which can then be read directly from your Dashboard.  If you haven’t checked up recently, there may be news about a business you have lent to waiting for your perusal.

Our borrower and investor community is stronger as a group, and will grow stronger and faster through better engagement and interaction between the lenders and borrowers even after a loan has been funded. We encourage lenders to support the businesses they have invested in by buying from them, or recommending them to friend – and, where a borrower is brave enough to ask for assistance, remember that your input could have a valuable impact in helping the business continue to thrive.

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