Need some Covid pandemic financing tips? At Key Choice Group, we will support you. Continue reading this content article if you are struggling how to be financially wise during this time of crisis. Know more about the companies, firms and other financial instruments for funding that could supply you financial advantage.
Across all countries, are you in any of these groups during this Crisis?
Group 1 COVID Pandemic Financing Status: Immediately Financially Impacted by Risk
- Contact your bank and request a repayment holiday. This is your personal work and duty. Companies and firms are just 1 call away.
- When calling ask to speak to the hardship or crises department. Most lenders have a specific policy around COVID-19 crisis financing or-else it is handled as a part of their current hardship policy. Please note your loan interest finance will capitalise during this period but you may be able to receive funding for repayment holiday period. During financial crises or financial crisis year, there is not a uniform policy across the banks so you need to communicate and call directly with your bank regarding any fund for more assistance.
- You may be eligible to access some of your Superannuation and also benefit from the Government stimulus package. For more information on both of these options refer to this link – Economic Response to the Coronavirus https://buff.ly/38M2jy2
- Same as with other countries, if you are unclear about what you are being told by your lender please contact us for clarification and we will handle and supply any crisis response. We keep any credit details private and we will give you present and future action points.
Group 2 COVID Pandemic Financing Status: Not Immediately Financially Impacted and Employed in a Secure Industry
- Debt consolidation to improve your cash flow. Regardless of how large will be consolidated. Anything you can do to build a cash reserve or buffer in uncertain times is important.
- Fixed rates are exceptionally low. With many lenders and private sector not passing on the last full Reserve Bank interest rate reduction, it may be a time to consider if Fixed Rate loans are right for your circumstances. Many lender companies and firms have fixed rates facility or system between 1 and 5 years at lower than their current variable rate.
It is important you contact us for personalised mortgage advice on these options to lessen risk and have the best solutions as you start a new financing scheme.
Final Thoughts on Covid Pandemic Financing Risk and Financial Response
This too shall pass, focus on your breath and reach out for help if needed. It is tough to have a sustainable work that will drive capital during this time of crisis. Yet there are instruments and services and will supply your housing and other emergency needs.
At Key Choice Group, we keep on developing a chain of support for you. We have lots of content here on our website that will also help you out for better future solutions, and future funding. You may check more blog post content here.
Moreover, feel free to Contact us now for further support.