Standard Bank has announced a 90 day loan repayment holiday for South Africa small and medium-sized businesses in a bid to soften the economic impact of the coronavirus. According to the bank’s website, the Coronavirus Business Interruption Payment Scheme offers “payment relief to our small enterprise customers, as a preventative measure to shield them from the economic impact of the COVID-19 outbreak”. Notably, the scheme will automatically defer payments of certain small and medium-sized businesses. Businesses that do not want to have payments rescheduled can opt out. The initiative is set to launch on April 1 and will defer payments … Continued
