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Assetz Capital announces measures for borrowers and investors amidst COVID-19

UK-based Assetz Capital, a P2P business lender, has announced a short-term plan for protecting investors and borrowers during the COVID-19 pandemic. The company has introduced measures to assist its borrowers and has put in place a nominal ‘loan servicing fee’ for strengthening the platform’s services.

Stuart Law, CEO at Assetz Capital said, “We’ve made fantastic progress in the last two weeks as we adjust to these new market conditions. Overall, we are realistically optimistic, with a solid plan developed by a vastly experienced team. We believe this won’t just see us through but help all our stakeholders thrive in the long-term.”

Assetz Capital has introduced forbearance measures and lender vote as well as a halt on interest payments for the borrowers. It will also offer a nominal loan servicing fee, lender updates to affected loans and live withdrawals from access account for investors.

“With the stock market currently down around 30% and property funds and some other peer-to-peer platforms completely closing withdrawals, we believe we are in a pretty reasonable position which we will build on over the coming weeks. When we started the business in 2013 we set out seeking to outperform other asset classes over the long term. That remains our aim today,” Law added.

Founded in 2012 in the UK, Assetz Capital is a British peer-to-peer or “marketplace” lender which allows private and institutional investors to lend money directly to small businesses and property developers.

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