Tala has acknowledged the outcry of borrowers regarding being denied loans during the covid-19 period and has issued a statement regarding offering support through the below 4-plan strategy.
- Flexible repayment: We know our customers have been affected in different ways. If you are unable to repay by your due date due to COVID-19, we want to help. Please reach out to us at firstname.lastname@example.org and we can work together on a revised repayment plan.
- Modified lending: We remain committed to serving as many existing customers as possible during this time. As a result, some of our customers may receive loan offers that are lower than their previous limit. Please note that this change will not affect your good standing with Tala, and we will return you to your previous limit as soon as we are able.
- Trusted information: For customers looking for free, trusted information on COVID-19, we’ve developed a Resource Center in our app and on our website. The list has been curated with the help of our teams and partners and we’re always taking new ideas. Please reach out to us if you have suggestions to help your fellow Tala community members during this time.
- Supporting essential workers: We have developed a new long-term Community Support Loan for Tala customers who are providing essential services to their communities during this time – including accessible healthcare, fairly priced foods, or sanitary household products. We believe that investing in these customers can have a multiplying effect and help speed up recovery for our community as a whole. Our first loans have already been disbursed and we look forward to sharing progress.