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Zagga Rates of Default

Zagga Rates of Default

A loan will be considered ‘in default’ or a ‘default event’ to have occurred if loan payments have been missed for over 30 days and there is no reasonable expectation of payment, and are therefore in arrears, or if other loan conditions have not been met. Our standard default rate is an additional 5% to the annual interest rate of the loan, as agreed in the Term Loan Agreement, and is compounded monthly. Zagga’s overall default rate across all risk grades and loans issued thus far is 1.77%, please see table below for further information.

 

Risk Grade Current Financial Year Last Financial Year Life of Zagga
A 0 0 0
B 0 0 0
C 0 2.91%(1) 2.91%(1)
D 0 0 0
E 0 0 0
F 0 0 0

Notes:

1. Numbers within parenthesis is the actual number of loan defaults

2. All loan percentages are based on gross loan amounts prior to any recovery