COVID-19 Updates, News

Update by iuvo: The status of our originators in the pandemic crisis

Coronavirus keeps spreading over the world and the need for concrete information grows accordingly. Today we would like to share with you the most important things you have to know about the originators in iuvo. We have taken a proactive approach and we are constantly communicating with all of them, in order to keep track of:

– How the current situation affects the local market and their business?

– What measures have they taken now and for the future?

– What are their indicators for stability and liquidity?

– What is happening on the political/regulatory horizon?

– What is the situation on the streets of the country they operate in?

The constant communication with the responsible people for the business of our partners helps us to be close to the development of the situation. Here is the up-to-date information we have:

– As expected, all companies started to feel slight delays in collecting debts, but not critically.

– All companies have stopped granting loans to new clients until the situation does not get better. They lend only to their loyal borrowers.

– There are discussions to extend the term for payment in individual cases, where the borrower has a good record in the past.

– No moratorium on loan repayments was introduced in any of our originator’s countries at the moment.

– All of our partners once again confirmed that they have a healthy liquidity.

These are the measures so far, that we shared with you last week:

– At this point none of the companies we work with has experienced decrease in collectability.

– All of our Originators have confirmed that they have the needed liquidity.

– Nevertheless, all of them plan to decrease the number of granted loans during the quarantine period.

– All companies will tighten their scoring criteria, as they are going to decrease or completely exclude granting loans to businesses or people in the sectors of tourism, transport, restaurant services, retail (excluding e-commerce).

– Companies are redirecting their call center’s efforts from granting loans to communicating with their current clients, assessment of the situation, and collecting debts.

– Our Originators in the sector of business lending are in constant communication with the managers of their most significant clients.

– The employees of all companies are working from home, as far as possible. They are not expecting this to affect their operations in any way.

Our team continues to share all important aspects and actions that concern your investments. #StayHome and be informed.

Related posts