- Nationals or permanent residents of Trinidad & Tobago
- Members who have earned an income from employment or business during the thirty (30) days immediately prior to March 15th
- Members in good standing
THE GORTT 2020 COVID-19 EMERGENCY LOAN is a facility our members can access if they have experienced loss of income and/or earnings due to the ongoing pandemic.
Here’s what you need to know:
WHO CAN APPLY?
WHAT INFORMATION DOES THE BORROWER (MEMBER) HAVE TO PROVIDE?
Employed person requirements:
- Must complete the Covid-19 Emergency Loan Application
- Letter from your employer attesting to your loss of income due to COVID-19 and intention to continue your employment
- Recent payslip
- Must submit a declaration and certificate attesting the information on your loss of income is accurate and true
- Any other documents or information otherwise requested by the Credit Officer
Self-employed or otherwise
- Must submit reasonable information and other details showing loss of earnings and/or income due to COVID-19. The credit union reserves the right to ascertain if the information provided is substantial.
- Must submit a declaration and certificate attesting the information on your loss of earnings and/or income is accurate and true
- Other documents or information otherwise requested by the Credit Officer
HOW MUCH CAN I BORROW?
You can borrow up to $15,000.00.
DO I HAVE TO PAY ANY LOAN FEES? OR ARE THERE ANY LOAN OR PROCESSING FEES?
There are no application or processing fees.
WHAT IS THE INTEREST RATE ON THIS LOAN?
The interest rate is 0.50% per month.
HOW LONG WILL THE CREDIT UNION TAKE TO PROCESS THE COVID-19 EMERGENCY LOAN?
The credit union will take up to five (5) working days to process and disburse the loan funds to the member.
HOW LONG WILL IT TAKE TO PAY OFF THE LOAN?
