To the small business owners in the areas affected by Hurricane Harvey and those threatened by Hurricane Irma, our thoughts are with you, your family, friends, associates, and fellow community members. As one storm carved a path of destruction through many Gulf Coast communities and another more powerful storm threatens to do the same, our thoughts have turned to the citizens whose safety and well-being are of utmost concern. Among those are many of our small business customers, whose businesses and livelihoods are also being threatened by this terrible disaster.
We have been reaching out to our trusted lenders to stay up-to-speed with and offer our support for their efforts to provide reprieve to the hundreds of borrowers in the path of catastrophic storm Harvey. Many of the lenders on Lendio’s platform have already informed us of their plans to place a temporary pause on debits or to personally call and confirm with merchants in the Harvey-affected areas to tailor a repayment plan specific to their needs; we applaud their proactive efforts, consideration, and concern in this regard.
A temporary pause on repayment allows small business borrowers a much-needed reprieve to focus on the safety of their families, as well as a chance to focus on protecting their property and getting their financials in order to deal with the emergency at hand. We at Lendio express our support for this effort to provide temporary relief until business is up and running again in this part of the world.
Our hearts go out to all those in the trail of destruction who have a great deal of work to do in rebuilding and reestablishing after the flood waters recede. We encourage small business owners to call any bank or institution where you have credit to let them know about your situation. Most will work with you to defer payments and waive fees until your business is back on its feet.