Cashare adds option to extend loan investments

Swiss peer-to-peer lending platform Cashare has given investors the option to remain invested in loans which have been extended by the borrower.

From today, investors will be alerted if a borrower opts to extend their business loan. Each small- and medium-sized enterprise (SME) borrower of a bullet loan is given 60 days before the current loan expires to extend the term.

If the borrower opts to extend, the investor will have seven days to decide whether they want to remain invested in the loan for the new duration.

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The extension can be activated by clicking on the ‘confirm’ button.

“In our continuous effort to provide innovative solutions to our customers, we are exceptionally pleased to introduce our latest system enhancement,” said Cashare in a statement to investors.

“From now on, it will be much easier for investors to stay invested in an existing short-term loan. This means that while benefiting from the payment of interest, there is no need to make a new deposit of a loan amount.”

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Cashare added that the extension only applies to investors already invested in the respective project.

Existing lenders who wish to remain invested will receive a summary of their extension and will be paid the interest minus the fees. Investors who decide not to renew will be paid the amount invested plus interest.

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