COVID-19 — Announcement

Dear Small Business Owner

I know these are worrying times and that you’re probably wondering when things will go back to normal, whilst doing your best to stay positive as well as looking after your loved ones. I’m doing the same, so I know exactly what you are going through.

I’m writing to you as a fellow small business owner concerned about what the future holds for the small businesses that we serve and every other small and micro business, sole trader and freelancer in the UK.

With that being said I’m aware of what’s required from us during these times of uncertainty and can assure you that we will do everything we can to support you and every other small business while we prepare for the aftermath of Covid-19. Please find an update below which states what we are doing for our:
- Current and previous customers
- Pending applicants
- Small businesses across the UK.

Paying Customers

If you haven’t already, expect a call from either Lisa or myself within the next two working days. On this call you’ll be taken through a quick questionnaire and informed about what services we plan to put in place to support you and your business during these testing times.

One service we’ve already begun working on is a ‘matching service’ with lenders in our ‘Partner Network’ who’ve been appointed by the government to offer CBILs (Coronavirius business interruption loans). All of these loans will come with a 12 month interest free payment holiday. We are yet to confirm the exact requirements for these loans but will update you once we do.

Pending Applicants

Due to the recent uncertainty caused by Covid-19 all unsecured loans being disbursed directly from our balance sheet will be put on hold until further notice. We will be referring all applicants and businesses on our waiting list to lenders within our ‘Partner Network.’

Whilst unsecured lending is put on hold, we will be reviewing our due diligence process and working with our investors and stakeholders to create new products which provide both you (our customers) and our investors the comfort they need during these uncertain times. If you’ve applied for a loan and are yet to hear from us please expect a call this week explaining the next steps.

Small businesses in general

From the 25th of this month we’ll be dedicating all of our resources towards providing you the guidance, support and tips required to navigate through these times. To access the very best tools, tips and more follow our social media channels on Instagram, Twitter and Linkedin to check out what we have in store.

Conclusion

Despite the level of uncertainty surrounding the UK economy and the small business market, I can assure you we will remain dedicated to serving underestimated entrepreneurs throughout these turbulent times and will continue to do all we can to assist those who’ve been affected by Covid-19.

If you have any urgent queries please contact me directly on demi@lendoe.com and I’ll endeavour to respond to your message as soon as possible. Wishing you, your family and friends all the best.