Supporting you from home: interview with the Investor Support team

During these uncertain and unprecedented times, we are focused on supporting both the investors that have lent through the platform and the small businesses that have borrowed. By helping businesses to get back on their feet, we are able to protect returns over the long term. Part of this support includes having a dedicated Investor Support team on hand to help with any queries investors may have during this period. We recently caught up with Sam and Jess from the team to hear how they quickly adapted to the challenges posed by Covid-19 and what they have been focused on over this past period.

What happened when the first lockdown was announced?

Samuel: “We were actually trialling a ‘working from home’ day when the announcement was made, so we were able to quickly adapt to working remotely full time. We had already re-routed our phones for the trial, and our equipment was up and running so we were immediately available to continue providing support to investors. In the midst of this, we did of course see a spike in investors getting in touch. It was predominantly (and understandably) with questions around how small businesses would cope and how investments would be impacted by the pandemic.”

Jessica: “To help alleviate those concerns, we felt it was really important to be transparent  and communicate regularly with the steps we were taking to support small businesses and protect investor returns, especially as things were changing so frequently. The risk team also continues to analyse the loanbook and monitor the wider environment to ensure we adapt quickly if needed. The good news is that we expect all cohorts to continue to deliver positive returns to investors despite the Covid-19 stress.” 

What were some of the main challenges of remote working?

Jessica: “We focused heavily on ensuring good lines of communication. We set up more regular team meetings with video conferencing to ensure everyone was kept up-to-date on the latest developments. We also use an online messaging system for day-to-day conversations and where we need a more instant response. We have a constant feedback loop with other parts of the business, including the strategy, communications and product teams, to ensure there is no disconnect. 

“We have also been very focused on the mental health and wellbeing of our team members. To that end, the business introduced some great initiatives to make sure we’re looking after ourselves during these challenging times, and as a team, we keep in regular contact and are always reminding each other to take a break away from the screen. Ensuring the team has a good mindset means we are able to provide investors with the same level of support and service as we would during normal times.”

What changes did investors face due to Covid-19?

Samuel: “As a result of Covid-19 and the immediate impact it had on the small businesses that investors have lent to, we moved quickly to help small businesses access financial support under the Government’s loan schemes. We were the first lending platform to be accredited under CBILS – the Coronavirus Business Interruption Loan Scheme – and started taking applications from small businesses in just six weeks. 

“As individual investors are not able to participate in the Government loan schemes, we paused lending for individual investors whilst we focused on helping as many businesses as possible through this period. We also paused the secondary market as a further step in ensuring investor returns are protected during this very uncertain period. In the meantime, we have continued to service the loans held by individual investors and are pleased to see that the vast majority are now making their monthly repayments, meaning funds continue to build up in investors’ accounts which are available to withdraw at any time.”   

What’s next for the team?

Jessica: “We’re proud that we’ve been able to provide the same level of service while working remotely, and hope investors have continued to feel supported through this period. We’re so glad that we have been able to play our part in supporting the small businesses who we believe will drive the recovery of our economy, and equally, supporting the investors who’ve provided the finance to help those businesses get to where they are now. Like everyone else, we’re looking forward to life getting closer to normality again and to being able to use all the learnings from this period to make positive steps for the future.”

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