Barbados Trust Fund Limited (BTFL) clients whose loans are in arrears due to declining sales due to the COVID-19 pandemic, have been thrown a lifeline.
Managing Director Gerry Amos, other BTFL managers and resource people introduced some of his clients to the ROE ROE – Restructuring and rescheduling your loan program Thursday night.
During a networking session held at the MERC complex of the New Testament Church of God on Fairchild Street, Amos explained that clients unable to pay their loans during the national break would benefit from a longer repayment period and ‘a lower monthly payment.
He said in his opening remarks to attendees that the Department of Energy, Small Business and Entrepreneurship and the Trust Fund have been working diligently to develop a plan to help their clients.
“We would expect it to be an ease for this client, not having to worry about the accumulated arrears, not having to worry about the accrued interest, and now they have a smaller refund,” he said. declared.
“Our Minister (Kerrie Symmonds) said we needed to develop a program, so my management team and I created the RE RE program to help our clients. This is an opportunity for you to get back on track, to pay off the loan while keeping in mind that when you repay the loan, you are allowing someone else to borrow against the trust loan.
Earlier in the week, Amos said entrepreneurs also benefited from a two-day debt management and budgeting training session to help them become prudent money managers, especially during a pandemic.
He mentioned other Trust Fund initiatives to help entrepreneurs. “We decided that the two day training was not enough and we decided to take it a step further and bring the clients together in a networking session today. [Thursday] to take a few clusters out of the groups. Thus, we strategically train people in clusters that we believe can come together. Today, it’s manufacturing and agriculture because we see natural synergies between these two clusters, ”explained Amos.
“At the end of it all, we have an ACE (Advanced Client Enhancement Program). We will train our clients with cluster professionals across the island to build their capacity to a level where we can showcase these products in stores and supermarkets to give these clients visibility, ”he said. added.
The Managing Director of BTFL expressed the hope that there would be a good relationship with his customers so that he could provide training and other help. (BGIS)