Niue Development Bank is providing interest and principal holidays for an initial three months period or a reduction in repayments to fit with their changed circumstances.
According to the General Manager Wayne McCaughan, this is being done on a case by case basis and the position will be reviewed again in three months and if necessary extended for a further three month period.
This financial relief is being provided to all Tourism and other downstream businesses significantly impacted by Covid19, along with staff of these businesses who are experiencing a major reduction in their income.
He says NDB is also offering a three month rent holiday to Commercial Centre and Hui Hui Factory Shell properties to its tenants that are impacted.
NDB is undertaking this to assist businesses through this difficult and uncertain period and customers should be looking to protect their cash flow as much as possible at this time.
The General manager added NDB is also working with EFTPOS NZ to have the monthly EFTPOS fees reduced for those businesses impacted by Covid-19 and will be in touch with these customers in due course.