BBG and Covid-19

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ixmucane
New Member

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BBG and Covid-19 Apr 15, 2020 7:46:26 GMT david42 likes this

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Post by ixmucane on Apr 15, 2020 7:46:26 GMT

Where payment holidays or interest only payment have been agreed between REBS and the borrower, what will the status of BBG loan elements be? The loan is not strictly in default but the BBG microloan holder could argue that they are not receiving full payments.

danraj
Representative of rebuildingsociety.com

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BBG and Covid-19 Jul 17, 2021 11:15:44 GMT david42 likes this

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Post by danraj on Jul 17, 2021 11:15:44 GMT

Hi, thank you for your question.

Please accept my apology for the late reply. The logic for the BBG will not trigger at 60 days if there is an interest-only payment but will trigger if there is a repayment holiday. The BBG Trigger only activates after 60 days of non-payment. I will ask for our FAQs to be updated to reflect this.

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