Mortgage Business Prospa originations recovering from COVID By Annie Kane 01 March 2021 The SME lender’s loan origination volumes continue to recover from its COVID trough, but originations in 1H21 were still down 41.1 per cent on the pcp. Prospa released its financial results for the six months ending 31 December 2020 (1H21), showing that while loan originations continued to improve over the period, they were still markedly down on pre-COVID levels. While the lender had deliberately restrained its risk appetite at the height of the pandemic, it began easing off towards the end of last year when movement restrictions began to ease. Total loan originations for 1H21 were $180.7 million, down 41.1 per cent on the pcp, which the fintech said reflected that “small-business demand remained below pre-pandemic levels”, and included the “significantly lower contribution from Victoria” (a major market for the lender), due to the region’s extended lockdown during the half.