We are here to assist you with any Covid finance related issues

words by Mark

With the present uncertainty around lockdowns and any concerns you may have regarding your current finance arrangements, we are here to assist.

Over the past few weeks, we have been speaking with all of the primary banks and finance companies to obtain an understanding of the support they will be offering to clients who may be financially suffering as a result of the present lockdowns.

Although many of these financiers have not as yet put out formal notifications around the protocols for any payment deferrals, we can advise that the finance community have confirmed they would be pleased to work with any clients who need assistance.

Some of the learnings which came from the initial Covid issues last year saw quite a number of our clients look to pre-emptively defer their finance payments for 3 to 6 months, only to find that the market quickly recovered. As a result of many clients going EARLY on their payment deferrals, their subsequent requests for additional finance post that period did come with its challenges as many financiers required clients to have concluded their deferment period prior to providing additional finance.

We can already see that quite a number of our clients are concerned about the next 2 to 3 months and although many still maintain good cash reserves, they are looking for some indication or certainty of an ability to commence a payment deferral program in the months to come in the event that these lockdowns continue for an extended period. We can also see from our initial investigations that the relevant financiers are receptive to this (where needed) and will consider providing necessary support.

We are here to work with you through this process should you require it.

Should you require support or wish to discuss your present situation, please either contact us on 1800 358 658 or email finlease@finlease.com.au

We will work with you and the relevant financiers to assist in providing you with some certainty as we all navigate through the next few months.

Please reach out to us as that is what we are here for.

 

Mark O’Donoghue, CEO Finlease

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