How ecoligo responds to COVID-19
During this uncertain period, ecoligo has taken action to support our clients, the crowdinvestors, and our teams around the world. Below you can find information about these actions. In addition, crowdinvestors can always find the latest information on the situation in each project country on the individual project pages.
In order to protect the crowdinvestors from the effects of the pandemic and other unforeseeable events, ecoligo has set up a guarantee fund of €50,000 in March 2020. This fund is fed by ecoligo’s profits from ongoing projects. The fund has been set up to compensate for delayed or lost income from the projects and aims at ensuring punctual repayments to the investors. Read more.
Current status of the projects
So far, there have been no payment defaults for any of ecoligo’s projects. However, two projects for the University of Santa Lucia in Alajuela, Costa Rica, had to be canceled due to the effects of the corona pandemic. Due to a significant decrease in the number of students, the university was no longer able to rent the buildings on which the projects were to be installed and was thus forced to cancel the projects. All investors have received their investments back in full. In addition, they were paid the accrued interest and an early repayment fee in accordance with the terms of the loan. The guarantee fund remained untouched by these payments. Read more.
Stability through ecoligo’s business model
The duration of the corona crisis and the extent of its impact remain uncertain. Nevertheless, ecoligo remains well-positioned. Thanks to ecoligo’s international positioning, the different economic and social developments in the individual countries can be balanced out. This creates stability and helps to protect investors. In our blog on ecoligo.investments, Martin Baart, CEO of ecoligo, explains ecoligo’s business model in detail and provides an overview over the measures taken to protect crowdinvestors.
If you have any further questions about risk mitigation, ecoligo’s business model, or the impact of the COVID-19 pandemic on our projects, please feel free to contact us directly at [email protected].
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