We at Bondster are doing maximum to ensure the safety of your investments and will continue doing so. Therefore, we bring you the statements from our providers outlining what measures they have taken in reaction to the current coronavirus crisis in the upcoming days.
Up-to-date information from the loan providers:
In the past few days, we have been interviewing our loan providers to bring you more information about the impacts the outbreak of coronavirus had on them and the local markets. We also asked about the measures the loan providers and the governments in their countries had taken in response to the current situation. You can find the questions we asked below.
1. Has the government issued any statements regarding the financial support for the borrowers, which might affect your business operation? (Grace periods, changes in the interest rates, postponed payments) If so, which and how are you planning to assess them?
2. How does the current situation impact a debt collection process?
3. Which countermeasures have been taken to provide uninterrupted operation in case of a higher number of borrowers will default, or postpone their payments?
4. Which precautions have been taken to ensure sustainable borrowers’ payments?
5. Did credit eligibility check for new borrowers change due to the current situation? Have the credit scores been reevaluated? If so, how?
6. How does the current situation affect the local market and businesses? What are your projections?
7. What are your liquidity and financial stability indicators?
8. Did you set any limits to the issuance of new loans? (Credit limits, number of loans, eligible borrowers)
9. Are you planning to add new funding sources?
10. What are your projections on the interest rates for loans?