LENDER EXPANDS TO PRIVATE SECTOR CREDIT

By FAY SIMMONS jsimmons@tribunemedia.net

A PAYDAY lender yesterday said it has developed the staff and infrastructure necessary to expand into providing private sector employees with credit.

Ruthie Knowles, Easy Payday’s general manager, said the adoption of new technology has enhanced the company’s loan processing capabilities such that it can now move beyond extending credit only to public sector workers. She said: “We have been turning down customers from the private sector for years, but we now have the infrastructure in place. We have well-trained staff and have invested in a new loan platform that can adequately service an increased loan volume.”

The lender offers loans up to $30,000 for government employees, and $5,000 for privately-employed individuals with a minimum five-year employment record with their current employer. Ms Knowles indicated that the loan limit for private employees may increase as the company develops this business line.

She said: “Over time we will update policies on the current credit limit and loan term. During this initial introduction, we are seeking to assist persons who have been stable with one employer for at least five years.”

Felanique Capron, an Easy Payday employee, of efforts to improve air transport connectivity and the flow of tourists to the Family Islands while also making critical infrastructure assets climate resilient.

Besides improving operating procedures, safety management, emergency response plans and the Bahamas Airport Authority’s internal capabilities, the redevelopment works will also raise the selected airports to International Civil Aviation Organisation (ICAO) standards.

Alfred Sears KC, minister of public works and utilities, said at the Hot Mix contract signing that the works are being financed with an Inter-American Development Bank (IDB) loan. “The Family Island air transport infrastructure is in need of improvements to comply with international aviation standards, and to achieve a resilient stock of infrastructure against climate change,” he said.

“The IDB supports this improvement process given the bank’s experience in air transport infrastructure.” Mr Sears said Exuma International Airport was in need of investment and requires a wide range of upgrades. He added that security deficiencies, including visual aids, lighting and marking, mobile equipment, the layout of the runaway, apron and taxiways, impose a risk to the said the major distinction between Easy PayDay and traditional lending institutions is the customer service and one-hour turnaround. She said: “Our customer service is superb, as well as the turnaround time. Based on the feedback from customers, our turnaround time is amazing. Our loans are quick, fast and easy.” Easy PayDay has been operating since 2004, and participates in various philanthropic activities. Ms Knowles said: “Easy PayDay has a foundation that makes annual donations to various charitable organisations, and some individuals that meet our policy criteria.

“Last year, December, we also donated computers and printers to two schools. Currently, we are in the process of donating building supplies to renovate a building on a Family Island to be used as a computer lab for students.”