Community Disaster Loan Program
The Community Disaster Loan Program is designed to provide financial assistance to homeowners, renters and businesses for costs associated with the cleanup and recovery related to the disaster for community members in the counties where our branches are located (Blue Earth, Nicollet, Watonwan) and the counties bordering those counties (Brown, Cottonwood, Faribault, LeSueur, Martin, Renville, Sibley, Waseca). This program offers an accessible and flexible loan solution to help you get back on your feet quickly and efficiently.
Key Features:
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- Easy online application: Focus on your recovery and cleanup rather than a tedious loan application.
- No payments required for the first 90 days: Eliminates the burden of immediate loan payments.
- Repayment spread over 5 years: Extended repayment period eases the financial strain.
Consumer Details:
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- Loan Amounts up to $5,000: Access important funds to complete necessary repairs.
- Unsecured loan: No collateral required; so, we can quickly fund the loan.
- Below market fixed interest rates: Annual percentage rate (APR) of 5.99% with no fees.
- Even lower interest rates for Pioneer Bank customers: 4.99% APR for Pioneer Bank deposit customers (even if you open the account when you get your loan).
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Business Details:
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- Loan Amounts up to $20,000: Access important funds to complete necessary repairs or replace lost revenue
- Unsecured or Secured: Flexible collateral requirements for fast funding
- Below market fixed interest rates: Annual percentage rate (APR) of 6.99% with no fees.
- Even lower interest rates for Pioneer Bank customers: 5.99% APR for Pioneer Bank deposit customers (even if you open the account when you get your loan).
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Eligibility and Approval:
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- Credit Score-Based Approval: Loan approval and amount are determined based on your credit score, ensuring a fair assessment of your financial situation.
- Online application only.
This loan program is specifically tailored to support those in our community during times of need, providing a straightforward and supportive financial resource when it matters most. At Pioneer Bank, we are committed to helping our community navigate through challenging times with the financial assistance they need.
Apply Now!
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*Offer of credit is subject to credit approval. Limited funds available.
Example: loan for $5,000 with a 5.99% interest rate would have an APR of 5.991% and 60 monthly payments of $97.61. APR = Annual Percentage Rate.
Accepting consumer applications through July 31, 2024. Accepting business applications through August 9th, 2024.