The pandemic has brought about many hardships to people globally and has heavily affected their lives – from a financial standpoint in particular. It is with this understanding that LoanMe has taken several measures to provide relief to its customers and support them during these trying times. From providing quick online loans with extension discounts even during the pandemic; to providing concessions once lockdown was lifted – we have supported our customers along the way, with their financial well-being always at heart. We are pleased to have been there for customers who were in dire need of easy online loans and short-term loans in Sri Lanka.
The Financial Impact of COVID-19
The COVID-19 situation has proved to be a difficult period of time for communities across the globe – including those in Sri Lanka. In addition to growing health concerns, the pandemic has resulted in severe financial distress for countless people – many of whom have had to struggle with providing for their families or even carrying on with their day-to-day lives.
People who were heavily affected included those who had lost their jobs due to unexpected company lay-offs, daily wage workers who were unable to find means of earning during lockdown, as well as those in industries that were very badly hit by the pandemic – such as the tourism & hospitality industries. Additionally, the numerous lock-downs and travel restrictions that were enforced in the country caused most economic activities to come to a standstill – leading to a drastic impact on Sri Lanka’s economy, unlike any other the country has ever seen before.
As such, it is of little surprise that people in the country have struggled financially. As a result of such financial difficulties during this period, one of the main problems faced by many was the inability to manage and repay their loans. Those who faced a reduction in their income levels in particular now faced difficulty making their due repayments.
How Has LoanMe Supported Clients During the Pandemic?
Having understood the various financial troubles caused by the pandemic, LoanMe constantly strives to support our valued customers in the best way possible. We have offered relief to our customers in the following ways:
Extension Discounts on Loans
LoanMe has continued to provide quick & easy online loans amidst the pandemic. In addition to this, we provided extension discounts to customers, further supporting them financially during this time of need. This offered both salaried and self-employed borrowers who were not in a position to repay their loans the option to extend their repayment period with 50% off on extensions.
Such extensions offer clients the opportunity to regain financial clarity amidst the uncertainty of the prevailing situation, as they attempt to establish their financial foothold again.
Concessions with Waive-Offs & Lower Interest Rates
Another form of financial relief offered to our customers was in the form of concessions. These were provided once lockdown was lifted, with waive-offs on penalty charges and discounts on interest rates to help customers make their loan repayments without delays.
Supporting Yourself Financially During the Pandemic
Apart from taking advantage of the relief schemes offered by us, it is also important to take heed of extra measures in order to safeguard your financial well-being during this difficult period.
A good way to stay abreast of your finances is to always maintain a short-term budget for yourself in order to keep track of money coming in and money going out, which will also help you identify any shortfalls. Do remember to focus on your main priorities – your food, utilities and other utmost essentials, to help eliminate any unnecessary expenses. Also make a list of all your debts, bills and to whom you owe your money to – be it loan payments or credit card bills – and have a priority list for making such payments as well.
If you still feel that you are facing difficulty and find yourself incapable of making your payments, do reach out to us! We are always here to assist you and aid you throughout your financial journey with us. Contact us on +94117877555 or send us an email to info@loanme.lk – our agents are more than happy to talk to you and see what can be done.
Need to apply for an online loan? Visit loanme.lk and fill in our online application form to avail quick loans of up to Rs. 40,000 within mere minutes! Take advantage of 0% interest rates & no additional fees on your first loan – with the ability to make secure & convenient loan repayments online, over a period of 120 days.
