Somerset Capital Group has been closely monitoring the spread and the effects of the COVID-19 coronavirus. As the virus outbreak continues to expand, we remain committed to providing the world class service all of our customers, vendors and funding partners have been accustomed to throughout our 36 year history while protecting the health and safety of our team members and their families and being attentive to the safety of the local communities in which we reside.
After careful consideration of the severity of this outbreak, Somerset has decided to enact an office closure for our headquarters in Milford, CT effective as of Tuesday, March 17. We expect this closure to last at least three weeks but may extend for a longer duration depending on the severity of the effects on our area. Our management team and staff have developed a comprehensive plan to enable all of our staff members to work from home during these times while ensuring that all functions of our operations are fully supported. Our organization has made significant investments in technology throughout our history and we are confident our systems will fully support the efforts of our dedicated team members. We will continue to service the needs of all of our clients and business partners with minimal disruption or delay, all company contact details will remain consistent..
Aside from our shift to telecommuting to help minimize the risk of infection to our staff and their families, we have instituted internal communications protocols to coordinate activities of our team members and quickly identify any issues which arise. We have committed to major new funding facilities and augmented our capital reserves to support all of our funding requirements.
We expect that the coming weeks and months will likely be challenging for all the members of the world community as we deal with the effects of the virus. Our daily routines will be dramatically altered and stress will be placed on all of our lives to maintain some sense of normalcy. Our team at Somerset is firmly devoted to doing all that we can to support the needs of our clients and partners during this outbreak.
I am proud of the efforts of all of our team members in developing and implementing our plan of action in a prompt and efficient manner. This speaks to the quality and dedication of the members of the Somerset family.
We will continue to provide updates on our status as this situation unfolds.
I wish you all health and safety during this crisis and I look forward to much better days ahead. Please feel free to contact me or members of our management team should you have any questions or concerns you’d like us to address.
Somerset Capital Group, Ltd.
Evan M. Bokor
President and Chief Executive Officer