Thank you for your support in these difficult times. The pandemic of coronavirus COVID-19 does not choose, and it slowly hits every sector of our economies.
We all have to be strong in body and mind and behave responsibly not only towards ourselves but mainly towards elderly citizens and those with weak or anyhow harmed immunity system. We appreciate all your efforts when preventing the spread of the coronavirus.
Bondster is taking the situation very seriously. We let everyone work from home and we fully operate distantly now. The platform remains operating without any limitations and we have increased the capacity of our Customer Support that is ready to respond to any of your questions over the phone +420 283 061 555, live chat at Bondster.com or email email@example.com from 8 am to 5 pm CET every working day.
It has become evident that the slowdown of economy will hit every one of us. The governments all around the world react to that and announce various measures to keep the economies running. The measures differ in each country, some introduce the non-interest credits, tax holidays or forgive the social security system contributions or even implement the kurzarbeit in order to prevent companies and small businesses from laying off the employees and worsen the situation by increasing unemployment. While some of the measures might significantly ease the situation for borrowers, it might inevitably harm the loan providers. We can hardly predict and measure the impacts these measures would have on the world economy.
Some of the loan providers on our platform were already affected. They in general report lower levels of repayments and some already informed about decreasing recovery rates. All the providers are now predominantly focused on tightening budgets by reducing sales capacity and marketing costs. They concentrate on early collections and they adjust the scoring models in order to approve the loans only to more solvent clients.
Despite the regular monitoring and strict onboarding process of Bondster, the situation of the loan providers and their financial results evolve every day. Nobody predicted such a fast and dramatic slowdown of economies that will most probably result in recession.
We now focus solely on the ongoing monitoring and assessing the current financial situation of the current providers and will not onboard any new providers in these difficult times as it is very difficult to assess them properly in such a fast-changing environment.
We at Bondster are doing maximum to ensure the safety of your investments and will continue doing so, and we will bring you the statements of our providers outlining what measures they have taken in reaction to the current coronavirus outbreak in the upcoming days.
We are grateful for your support. We are in this together and we believe that you are all safe and healthy and this situation will soon be over so that we can all go back to business and our lives as usual.
Jana Mücková, CEO Bondster.com