In the wake of the recent COVID-19 (Coronavirus) pandemic, Nifty Loans has adopted this formal COVID-19 policy, which includes a number of new procedures to ensure we are offering our products and services in the best way during these uncertain times. This includes offering greater assistance to those clients who have been affected by the virus with enhanced hardship provisions. Accompanying this, we have made changes to our application and assessment processes to ensure we take appropriate steps to consider the current economic climate, allowing us to continue lending responsibly.
If you have an active loan with Nifty Loans and have been adversely affected by COVID-19, whether this is a loss in employment, a reduction in hours or something similar; we strongly suggest you get in touch as soon as possible. We have in place a hardship process specially designed for those who have indicated they are struggling due to COVID-19.
Nifty understands that the issues faced by our clients may encompass longer periods than normal, which is why we are open to discuss more varied payments arrangements. With such cases, Nifty may request evidence of a client’s financial position in order to assess them for a hardship variation. Though, this will be discussed individually and on a case-by-case basis.
Here at Nifty, we take our responsible lending obligations very seriously. This is especially true during the ever-evolving COVID-19 crisis. We have recognised the increased likelihood that some applications will be submitted by vulnerable individuals. In response to this, we have implemented robust changes to both our application form and assessment process. The changes we have made include but are not limited to:
Specific inquiries regarding the applicant’s current and future financial position during the period of the pandemic;
Further verifications of an applicant’s stated employment;
Tightened rules regarding part-time and casual employment and employment that is likely to be impacted the economic shutdown;
We recognise the situation faced by some of our customers is very uncertain, which is why we are continuing to review our lending process on a day-to-day basis.
Our staff and the wider community
Due to the recommendations made by both the World Health Organisation (WHO) and the Australian Government, Nifty Loans has made the important decision to close its offices whilst COVID-19 remains a health risk to the Australian public. We do remain fully operational, though, as our staff are now working remotely.
Nifty clients should not notice a difference in the service they receive. Though, we also ask that they understand that there may be a slight increase in processing time whilst our team grows accustomed to their new work environments.
With that being said, we will all need a little extra support during this time, so let’s be kind, stay connected, check-in with each other, and encourage people to seek professional support when they need it.
We are all #InThisTogether.