THE Guyana Water Inc. (GWI) has partnered with Creditinfo Guyana to help consumers when they approach banks, microfinance institutions and other lenders for loans and other forms of credit. 

The decision was taken to mark the implementation of an historic partnership, driven by their shared concerns and mutual support for the financial development of Guyanese and the economy of Guyana.

Through the Creditinfo Partnerships Initiative, GWI collaborated with the credit bureau to help consumers when they approach banks, microfinance institutions and other lenders for loans and other forms of credit. Information on the payment patterns of individuals from the utility was not available to third parties until the Creditinfo Partnership between GWI and Creditinfo.

This information could be a very useful tool to help in determining the character and creditability of a potential borrower. The information is included in the various credit reports that are now used by banks throughout the sector as an indicator of eligibility for funds. Further, lower rates of interest on loans and faster approvals are also now possible, making the whole application process with lenders faster and easier approvals more likely.

Creditinfo Guyana is both pleased and proud to publicly acknowledge Guyana Water Inc.’s outstanding leadership, corporate responsibility and outstanding efforts on behalf of their customers as demonstrated by their unstinting support for the credit bureau programme.
Throughout the world, studies have shown that the presence of a credit bureau in the market is always followed by a vastly improved climate for lending and credit access for consumers. It is exciting news that this is now available in Guyana, for Guyanese.

Creditinfo
Creditinfo Guyana Inc. is the second regional presence of the Creditinfo group of companies, a well-respected Icelandic conglomerate with credit bureaus and subsidiaries in over 16 countries worldwide.
Creditinfo Guyana currently serves every commercial bank and lender licensed under the Financial Institutions Act in the country, as well as a wide cross-section of other stakeholders in various sectors. The company is actively engaged in bringing together lenders and providers of credit from all sectors to add transparency, efficiency and effectiveness to the business of credit across the board.
Internationally, Creditinfo is regarded as a leading service provider for credit information and risk management solutions worldwide, and has developed numerous products and services from official and customer information sources to facilitate best practice decision-making in credit risk management.The company brings to bear over 20 years of solid experience and considerable expertise in the industry to the drive for improved access to credit in Guyana.
Creditinfo’s comprehensive line of credit reports will be in widespread use throughout the credit and lending sectors of Guyana, and are expected to significantly increase access to credit, reduce interest rates, help to lower the overall costs of borrowing and significantly reduce processing times for loans to the Small and Medium Enterprise Sector as well as for all Guyanese.