Term Finance defers payments

Credit institution, Term Finance Holdings Ltd, a web-based credit institution operating in the Caribbean region, has joined in to provide relief for clients affect by covid19 economic constraints.

CEO Oliver Sabga said the action taken by government, including restrictions to gatherings more than ten and ordering bars, restaurants, cinemas, schools and churches to close, is necessary but will certainly cause a slowdown in economic activity.

He said, “We are prepared to assist our partners who are employers and by extension their employees by granting a complete or part deferral on their loan instalments. At a time like this, these (measures) are needed to treat employees with the greatest amount of compassion possible.”

The extent of the deferral will be determined by the extent of loss of income and other any other relevant criteria.

Term Finance Holdings Ltd operates in Barbados, Costa Rica, Dominica, Guyana, Jamaica, St Lucia and TT.

Sabga added that covid19 has become a humanitarian crisis and said protecting the health and livelihood of people must be the number one priority.