Demerara Bank Ltd (DBL) yesterday said that it has granted a number of concessional loans to vendors whose businesses were gutted in the fire that devastated the Parika Market.
The fire on February 10 left many vendors struggling to return to their daily source of income. The Bank said in a release that it has been working closely with local authorities to identify the affected vendors in order to offer them concessional financing during this difficult time.
“We are deeply saddened by the devastating impact of the recent fire”, said Pravinchandra Dave, CEO of the Bank.
He added: “As a responsible member of the community, we are committed to supporting those who have been affected by this tragedy and we hope that our concessional rate and repayment terms on the credit facilities will provide some relief to the vendors as they work to rebuild their businesses.”
Dowlat Parbhu, General Manager of the Bank said that most of the vendors did not have accounts at any bank and encouraged them to make full use of this opportunity to build their credit history as the Bank is willing and ready to support their business and other banking needs even after this period has passed.
He said that the Bank’s Leonora Branch, which is currently under construction, will bring banking convenience to the West Coast communities and that various banking products and services will soon become more accessible.
The release said that the Bank has set up a special team to provide personalized support to the vendors, including help with loan applications and other financial services.
Dozens of vendors were displaced by the inferno.
