COVID-19: GTBank gives 90-day grace on payment of small, medium enterprises loans

To reduce the effect of the coronavirus pandemic on Small and Medium Enterprises (SMEs) amid the lockdown, Guaranty Trust Bank has placed a hold on its loan repayment plan for all Small and Medium Enterprises (SMEs) that have obtained credit facilities from the bank.

The news was shared via its social media handle, where it said: “As a result of the COVID-19 pandemic and because small businesses have had to stay closed to stay safe, we’re giving a 90-day moratorium on repayment of the following loans.”

The bank explained that the exempted businesses are those in the food industry, fashion industry and quick credit for businesses would enjoy a moratorium of 90-days on such loans. This means that small businesses in the aforementioned categories have three-months to continue to pay their loans.

 

YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE

Buy and read digital replicas of your TRIBUNE titles by subscribing through E-VENDING

No Peace In Nigeria Until Return To 1960 Constitution, 2014 Confab Report ― Adebanjo •Tackles Buhari, Tinubu for paying lip service to federalism, restructuring
Afenifere chieftain, Pa Ayo Adebanjo, on Thursday, said that will be no real peace in Nigeria until it returns to 1960 constitution. He also renewed calls for restructuring and federalism as critical factors for the nation to be… Read full story

Emirates Begins COVID-19 Blood Tests Before Boarding
Perhaps a sign of what the future holds for air travellers, Dubai-based airline Emirates has begun carrying out COVID-19 blood tests on passengers at the airport prior to flights… Read full story

Reps, Executive, Other Stakeholders Set Up Joint Committee On Free Electricity Supply To Nigerians
The House of Representatives and stakeholders in the power sector on Thursday resolved to set up a joint implementation committee on the proposed two-month free power supply to the poor and vulnerable Nigerians as part of the stimulus package aimed at alleviating the effects of the COVID-19 pandemic… Read full story

You might also like
Comments

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. AcceptRead More