Rebuildingsociety returns reached 13.82pc in July
Rebuildingsociety’s lenders earned an annualised return rate of 13.82 per cent in July, the platform has reported.
The peer-to-peer lending platform received £127,853 in capital repayments and £37,416 in interest payments on public loans last month. £1,482 was recovered from default, and this led to a net profit of £23,635 for lenders or an annualised return rate of 13.82 per cent.
“July was above average in terms of lender profit and platform net return,” Rebuildingsociety said in a blog on its website.
“We keep a rolling 12-month return figure to track profits over the last year; this month’s performance brings that to 2.38 per cent.
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“We also track the net return rate for the lifetime of the company; this figure remains fairly consistent and currently sits at 6.16 per cent net return per year. To put the figure in context, in July 2021, the lifetime average net return rate was 6.61 per cent. In July 2020, it was 6.71 per cent.”
The platform added that during July no new public loans were funded. 289 public loans have been funded to date via the platform, while the total amount loaned to small- and medium-sized enterprises is now £16,662,095.
The total capital still out on all loans totals £2,052,489, and of this, 15.22 per cent is currently in default.
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Rebuildingsociety said that as a platform it is continuing to lend, but it has “significantly amended” its credit risk processes to account for the risks currently affecting businesses.
“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,” said Rebuildingsociety.
“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.”
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