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What happens if October ceases to operate?
What happens if October ceases to operate?

October, activity, continuity plan

Matthieu de Fréminville avatar
Written by Matthieu de Fréminville
Updated over a week ago

Wondering what would happen to your loan portfolio if October were to cease all activity?

Here is our continuity plan:

  • Our direct debit partner, Slimpay, will continue to debit companies.

  • Our payment partner, Lemon Way, will ensure the financial flow between borrowers and lenders.

  • Part of October's remuneration (from the borrowers) is spread over the entire term of the loan. It will be used precisely to pay the service providers in charge of ensuring the continuity of financial flows and the monitoring of the loan portfolio.

What is the impact for Lenders and Borrowers ?

Lenders will continue to be reimbursed monthly on their October account. They will also be able to debit their account. However it will not be possible to add funds to the account as there will be no new projects proposed.

Borrowers will still be debited every months and the amount will be paid back to Lenders.

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