COVID-19 Updates, News

Our Originators’ business during the pandemic – update by iuvo

With the pandemic spreading rapidly throughout the world, there are burning questions that we all ask ourselves. It is extremely important for us – iuvo’s team, that our investors get the most accurate information about the situation our business currently operates in. The top priority at the moment is the health of the infected people, and to prevent the spreading of the disease. Despite the current situation, our responsibility to provide you with a high-yield product with controlled risk is still valid. We remain true to iuvo’s values and mission, and we believe that together we can overcome any obstacle that gets in our way.

Our responsibility

Our team has taken a proactive approach and we are constantly communicating with all of our partners in order to keep track of:

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

– What kind of measures they have taken at the moment and what are their plans for the near future

– What are their indicators for stability and liquidity

– What is happening on the political/regulatory horizon

– What is the real situation for the citizens of their respective country

These were the main questions in the conversations with the responsible people for the business of our Originators. We summarize the measures they have taken in this uncertain situation:

– 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

We are all in this together. We are going to stay in touch with all of our partners everyday, and we are going to assess the adequacy of the measures they have taken. We take full responsibility to keep our clients informed about any substantial change.

Our team complies with all recommendations. We are working from home, as far as possible. We are prepared and we do not expect this to affect our work in any way. We appeal to you: Please, stay at home. Let’s get through this challenge together. Be healthy, stay safe!

Related posts