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Support Package for SME's in PNG

The National Development Bank (NDB) Limited has announced a support package for its SME customers.

Customers impacted by the COVID-19 crisis can request a deferral on loan repayments for up to 3 months during this challenging time. This can include both principle plus interest payments allowing customers to divert funds into keeping their business operational.

Key Points
• Approval of up to three months’ repayment holiday to all customers affected by COVID-19
• Customers can decide to continue with their current repayment structure after the repayment holiday period or they can choose to increase their repayments to reduce the loan term.
• No variations or late payment fees will be charged during this time and there will be no impact to their credit standing with the Credit and Data Bureau during this period of uncertainty.

NDB will continue to be accessible to provide financial services at this time with branches operational. If changes occur with operational hours of branches & NDB businesses, customers will be notified through our branches and the social media.

Managing Director Moses Liu said, “Our package supports PNG businesses and the people who work for them. We understand the impact this crisis is having and NDB will play a major role in backing PNG’s economy and our customers through these challenging times.

(Picture sourced from ndb.com.pg)

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