In recognition of the difficulties many of its clients are currently experiencing because of the coronavirus, the Institute of Private Enterprise Development Limited (IPED) will waive all late fees generated after February 29 and suspend the penalty interest for late or deferred installments.
In a release yesterday, IPED stated that it has been in communication with most of their existing clients and assures of its awareness of the challenges confronting them and of the Institute’s intention to continue providing the necessary support that they may need to overcome this difficult period. “We advise our clients that all late fees generated after February 29, 2020 will be waived and penalty interest for late or deferred installments will be suspended.” According to IPED, restructuring, rescheduling, refinancing, deferred installments and payment arrangements will be determined on merit for each loan beneficiary, while reiterating that “we understand and will work with all of them to overcome the current crisis.”
The Institute also disclosed that it has taken steps to increase the frequency of the sanitization of its facilities. Wash basins have been placed at its offices for the washing of hands before entry. In addition, the release stated, the protocols of physical distancing have been implemented and all visitors to their premises are urged to comply with these measures at all times. IPED is also encouraging all those wishing to transact business with the company to call their various officers and branches before visiting the office. In addition, the Institute informs that visits to their offices will only be accommodated by appointments as limited employees are in the office whilst others work from home.
Persons are asked to call or send messages to telephone numbers 608-4096 or 608-8920 for assistance if unable to make contact with their regular loan officer or Manager, the release added.
