After storms caused significant damage in much of the Mid-Atlantic region, Susquehanna Bank is offering low-cost loans to affected residents to finance clean-up and repair of damaged homes.
The bank is offering unsecured term loans of up to $10,000 at a rate of 4.00%, with repayment due within 5 years. Applicants will need to provide a contractor’s estimate for clean-up or repair work for damage to their primary residence resulting from Hurricane Sandy. The bank’s standard underwriting criteria will apply.
“Our employees, neighbors and friends are among those whose homes were damaged by Hurricane Sandy,” said William J. Reuter, Susquehanna Bank Chairman. “As both a community bank and community partner, Susquehanna recognizes it’s our responsibility to step in and provide support where we can. This loan program not only offers homeowners an option to finance necessary repairs, it’s being offered at a rate that is lower than conventional loans.”
The storm damage recovery loans are available in Susquehanna Bank’s market area in central and eastern Pennsylvania, southern New Jersey, Maryland, and Berkeley County, West Virginia. Interested applicants should contact a local Susquehanna Bank branch; contact information is available through the ATM/Branch Locator on the website www.susquehanna.net. More information is available by visiting susquehanna.net/stormhelp or calling the Customer Service Center at 800.311.3182.
In addition to the unsecured term loans offered through this storm relief program, Susquehanna Bank also has a variety of home equity loans and lines of credit that homeowners may be able to use to help finance residential clean-up and repair work.
With travel limited and some branches operating on reduced hours during the storm, some customers may not have been able to make normal deposits to their accounts. The bank will work with customers who request refunds of Susquehanna consumer loan/mortgage late fees and overdraft fees due to extenuating weather circumstances on October 29 through October 31.
Susquehanna Bank provides banking and financial services at 261 branch locations in the mid-Atlantic region. It is a subsidiary of Susquehanna Bancshares, Inc., a financial services holding company with assets of more than $18 billion and 3,400 employees. Through Susquehanna Wealth Management, the holding company offers investment, fiduciary, brokerage, insurance, retirement planning, and private banking services, with approximately $7.8 billion in assets under management and administration. Susquehanna also operates an insurance brokerage and employee benefits company, a commercial finance company and a vehicle leasing company. For more information, please visit www.susquehanna.net.