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BoH offers aid programs for Soudelor victims
HONOLULU, Hawaii — Bank of Hawaii has initiated four financial assistance programs to help those affected by Typhoon Soudelor on Saipan.
“Our hearts go out to all of those who suffered home or property damage from the typhoon,” said Hobbs Lowson, Bank of Hawaii West Pacific region manager. “We realize that recovery may be a slow process and dealing with the aftermath is not easy. The financial emergency relief programs are designed for fast approval and quick funding to allow recovery as swiftly as possible. We know it’s important for people to restore normalcy in their lives and we have loan officers ready to work with individuals to assess their needs.”
Essentially, the assistance programs provide either access to cash via special loan programs for qualifying borrowers or relief on existing Bank of Hawaii loans through loan extensions or forbearances.
Depending on the particular special loan program, funds may be used to 1) provide immediate cash relief for emergency supplies and living essentials; 2) repair homes and/or vehicles, replacement of living essentials, or to bridge working capital needs; or 3) make vehicle purchases at dealerships located on Saipan, and includes the following features:
– Low interest rates on loans
– No payments for the first three months
– Fast approval and quick funding
– Loan terms of 24 or 60 months
– Loan amounts up to $25,000
Information and specific details on each of the programs are available by visiting our Chalan Kanoa Branch or calling Bank of Hawaii at (670) 235-5420. Once services have been restored we can be reached at (670) 322-4200. (BOH)
