Pat the loan and send a message saying that arbitration is okay?

Legal analysis: nothing. Online arbitration is no better than court arbitration. As long as the negotiations are proper, there is no need to panic.

Legal basis: Civil Code of People's Republic of China (PRC).

Article 465 A lawfully formed contract shall be protected by law. A legally established contract is legally binding only on the parties, except as otherwise provided by law.

Article 468 The legal provisions concerning the creditor-debtor relationship shall apply to the creditor-debtor relationship not arising from the contract; Where there are no provisions, the relevant provisions of these General Rules shall apply, except those that cannot be applied according to their nature.

Article 514 Unless otherwise provided by law or agreed by the parties, the creditor may require the debtor to perform the debt in the legal tender of the actual place of performance.