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Lenders Rush in to Help Victims of Lili and Other Storms.
Hurricane Lili may have lost strength as it hit shore, but it still left many Gulf Coast homeowners facing significant property damage.
Lenders active in the Gulf Coast have stepped up efforts to assist consumers who have been affected by the recent storms, Hurricane Lili and Tropical Storm Isadore.
For example, Bank One has created a disaster recovery loan program featuring discounted loan rates and deferred payments to assist Louisiana consumers and businesses affected y the storms.
Bank One's special program includes personal, unsecured loans ranging from $1,000 to $25,000. Business unsecured loans can range from $5,000 to $35,000.
Rates are two percentage points below comparable loan products, the company said. The program also allows a 90- day deferral in making the first payment. The loans feature no origination fees.
Designed to help both current and new customers, the loan program offers personal, unsecured loans to qualified applicants who live in the 28 Louisiana parishes that were declared disaster areas by President Bush.
Current customers may seek extensions to their Bank One loans as well.
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