Will financial institutions be willing to work with borrowers on existing loan facilities impacted by COVID-19?
With encouragement and support from the government and financial regulators, lenders will likely take a pragmatic approach and work with borrowers to meet their needs and mitigate the effect of COVID-19 on their business, while maintaining safe and sound lending practices. Early and thoughtful dialogue and open lines of communication between borrowers and lenders is critical, and will allow all affected parties to prepare for the next steps in an ever-changing environment.
Last updated March 16
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