1st July 2020

Banks support the national economy in the wake of COVID-19

Alongside five other Luxembourg banks, Spuerkeess is providing financial support to its professional clients, particularly to those who are facing a lack of liquidity due to the COVID-19 health crisis.

Spuerkeess has been providing special financing and payment deferrals for existing financial commitments since the very start of the pandemic. 

One of the first initiatives was to offer a deferral of up to six months on loan payments or leasing expenses. Over 2,500 deferrals have been requested at Spuerkeess to date with a 98% approval rate.

The deadline to request a payment deferral for hardship due to the pandemic has just been extended until end of September 2020. 

What is a deferral?

A deferral is a temporary suspension of repayment. It involves freezing payments for a fixed period of time agreed upon in advance with the financing partner. If the bank agrees, your monthly repayments of the principal and even interest on your lease are put on hold. 

Deferrals for hardship due to COVID-19 are granted for up to six months and must start before 30 September 2020.

Financing solutions

Additionally, special financing solutions adapted to the current economic scenario are also available:

Wondering how to take the first step? Just contact your advisor, who will walk you through the process. 

Request of advice for financing assistance solutions

Be contacted by a Corporate Banking advisor