Dear Flender Community,
We are contacting you to let you know that despite the many challenges posed by the Covid-19 situation, Flender is operating as usual.
As an online business, our staff can work remotely, and as a digital lender we are able to provide the same high level of support for our lenders and borrowers as we have always done.
Our support team is available to answer any questions you may have, and our originations and credit teams continue to assess opportunities with good businesses to ensure that our lenders continue to make good returns.
We know that many Flender investors will want to understand the impact that the Covid-19 situation may have on their portfolios and we’d like to take some time to address this with you.
Flender is not overly exposed to any single business sector and we believe that our robust credit criteria, the diversity of the businesses we lend to and the range of terms across the loans that we fund puts Flender lenders in a uniquely advantageous position over other lenders.
However, we do know that there are challenging months ahead for many businesses and we have a range of procedures in place to assist borrowers that experience difficulties. Our approach has always been to help businesses complete their loans, we will continue to help businesses, and any issues will be carefully assessed on a case-by-case basis.
As with all lenders, we are currently providing assistance for a small number of businesses that are experiencing cashflow difficulties. These are strong trading businesses and the supports we have put in place are payment moratoriums with balloon payments at the end of their terms – meaning that lender returns on these loans should not be affected.
As we assess new investment opportunities for our lenders, our credit team is applying stringent criteria to ensure that new loans available on our platform provide good opportunities and solid and safe returns for our lenders into the future.
Wishing you all the best for your health and wellbeing.