Prospa saw lending hit by virus

Small business lender Prospa says its performance in April and May has been materially impacted by COVID-19 related pressures on small businesses in Australia and New Zealand.

Prospa said it has provided 5,501 customers with relief packages between March and May, including short-term payment deferrals and reduced repayments.

The lender has also temporarily adjusted its underwriting parameters and credit assessment model in response to the changed economic environment, resulting in reduced origination volumes in April and May.

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