The economic downturn brought on by COVID-19 has not stopped new lending companies from opening - including the market's newest entrant: Ouranus Finance.

A staffer for the new lending outfit, who declined to be named, confirmed on Saturday the company was open for business but would later need to seek permission to give further comment. 

She later declined to provide any comment or to provide the Samoa Observer with any further information about the new business' model. 

The Apia-based company was established early this month according to an officer from the Ministry of Revenue, who confirmed that the online business has been officially registered this month. 

“It’s registered here and it goes under the name Iarita Leleua and it was registered this month," the official said. 

"Yes they do require a business license and it’s a must to have a business license. So the requirement is that they have to go and register at [the Ministry of Commerce, Industry and Labour (M.C.I.L.)] and then they come here after for registration."

The company says on its Facebook page that it is a newly-established online lending outfit. 

"We are an online lending business that have just freshly started," an online post reads. 

"We are here to help!"

In a 10 November post on its Facebook page, Ouranus stated that they are a small-lending business and urged customers to get in touch.

“We are a small-lending business that [is] willing to help you with what you need slash want,” states the social media post.

“Private message or email us to ask any questions that you may have. Don’t forget Christmas is just around the corner, so be sure to pre-plan for a merry and satisfying season for you and your loved ones.”

In a later 13 November post, the company suggested that it was run by a partnership as a side-business. 

"We both work full-time jobs as well," the company said.

The company’s social media page was created on 9 November 2020.