Rebuildingsociety reports “below average” December
December was a “below average” month for peer-to-peer business lending platform Rebuildingsociety.
Lenders saw a net loss of £30,920 during the month, which resulted in an annualised loss rate of 17.51 per cent.
The platform’s rolling 12-month return fell to 1.23 per cent in December, down from 9.26 per cent in November.
However, Rebuildingsociety said that the net return rate for the lifetime of the company “remains fairly consistent” at 5.65 per cent, per year.
One new public loan was funded in December, bringing the total number of public loans made via the platform to 295. The total amount loaned to small- and medium-sized enterprises is £16,994,555.
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There were two new defaults last month. The total capital still out on all public loans is just over £2m, and of this 14.26 per cent is currently in default.
“Our team keeps in contact with borrowers to establish how the current economic situation impacts their business, and where possible offer assistance,” said Rebuildingsociety in a note to investors.
“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.”
The platform added that it believes there is one loan at risk of default in January.
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