Those who have been affected by the destructive force of Hurricane Irene now have a light at the end of the tunnel, thanks to a set of generous offers from Citizens Bank. This national bank has opened its doors to consumers, small businesses and nonprofit groups who need a quick influx of cash, helping them rebuild by providing loans and a special credit card with zero percent interest.
Loans and credit available to existing customers
Beginning on Sep. 2, Citizens Bank branches in the hurricane zone - including those in Connecticut, Delaware, Massachusetts, New Hampshire, New Jersey, New York, Philadelphia, Rhode Island and Vermont - are offering special lines of credit and business loans to those who may need them the most.
Existing Citizens Bank customers will be able to apply for special low-interest loans and credit cards that offer zero percent interest rates for short-term use. The special emergency loan offers include:
- Unsecured personal loans up to $10,000 for 1 to 7 years, at an interest rate of 5 percent
- 6-month, zero-interest personal credit lines up to $15,000
- 90-day bridge loans up to $200,000 with an interest rate of 4 percent for small businesses and 3 percent for non-profit organizations
- Zero APR credit cards for a limited time for small business, non-profits and individuals
Citizens Bank provides credit to help the community
These offers provide much-needed relief for companies and consumers in the gap before federal funding comes through, a service that the Hartford Business Journal calls "credit lifelines."
Owned by Citizens Financial Group and with a history dating back to 1828, Citizens Bank is based in Providence, R.I. and has more than 1,500 branches across the United States. According to its website, part of its mission is to support and assist communities, a mandate it continues to carry out with this charitable initiative.