How to Manage Loan Repayment?

Priorities Loan Repayment

Set aside funds specifically for loan repayment.

Plan and Budget

Create a financial plan and budget that takes into account your loan repayment obligations.

Negotiate with the Lender

Consider negotiating to restructure the loan or extend the repayment period.

Utilise Moratorium Period

Use the moratorium period to defer loan repayment and stabilise your business.

Make Timely Payments

Ensure that you make timely loan repayments to avoid late payment fees and penalties and build a good credit score.

Refinance the Loan

Consider refinancing to lower interest rates or extend the repayment period, but carefully consider the terms and conditions of the new loan.