Lender expands to private sector credit



A PAYDAY lender yesterday said it has developed the staff and infrastructure necessary to expand into providing private sector employees with credit.

Ruthie Knowles, Easy Payday’s general manager, said the adoption of new technology has enhanced the company’s loan processing capabilities such that it can now move beyond extending credit only to public sector workers.

She said: “We have been turning down customers from the private sector for years, but we now have the infrastructure in place. We have well-trained staff and have invested in a new loan platform that can adequately service an increased loan volume.”

The lender offers loans up to $30,000 for government employees, and $5,000 for privately-employed individuals with a minimum five-year employment record with their current employer. Ms Knowles indicated that the loan limit for private employees may increase as the company develops this business line.

She said: “Over time we will update policies on the current credit limit and loan term. During this initial introduction, we are seeking to assist persons who have been stable with one employer for at least five years.”

Felanique Capron, an Easy Payday employee, said the major distinction between Easy PayDay and traditional lending institutions is the customer service and one-hour turnaround. She said: “Our customer service is superb, as well as the turnaround time. Based on the feedback from customers, our turnaround time is amazing. Our loans are quick, fast and easy.”

Easy PayDay has been operating since 2004, and participates in various philanthropic activities. Ms Knowles said: “Easy PayDay has a foundation that makes annual donations to various charitable organisations, and some individuals that meet our policy criteria.

“Last year, December, we also donated computers and printers to two schools. Currently, we are in the process of donating building supplies to renovate a building on a Family Island to be used as a computer lab for students.”

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