Main Source announces loan program for flood victims

MainSource Bank has put together a Disaster Relief Loan Program that would quickly give a $2000 loan to a flood victim with few questions asked.

Monday June 16, 05:05 PM

Kelly Reel, representing MainSource in Linton, and Jenny Crites, representing MainSource in Bloomfield, announced the local program at a meeting for flood victims held in Worthington Thursday evening.

"What we're offering is an unsecured loan with no interest and no payments for one-year. You can get up to $2,000 and it will be available to you immediately. All loans will be approved as long as you've never defaulted on a loan from MainSource before," said Reel.

With 64 offices in 29 Indiana counties, MainSource has banks in several communities that have been hard-hit with flood damage.

"A lot of our communities have damage and we want to help," said Reel. "We're offering this for our regular customers and also non-customers. We will approve these loans quickly - we will have to see an I.D., and the money will then be available to you to help with immediate needs."

Besides some form of identification, Disaster Relief Loan applicants should live in one of the counties affected and they should have a need. The loans are not for everyone - just victims of the recent storms, tornadoes and floods.

The loans will have a balloon payment due at the end of one year. At that time, it would need to be repaid or it could possibly be refinanced at MainSource or another bank.

One flood victim at the meeting asked, "I don't want to go further in debt, but if we need it, will the money be available next week?"

"Yes," answered Reel. "It's available now. Just come in to any MainSource location and the money will be there for you. We have offices in Linton, Bloomfield and Jasonville."

Daryl R. Tressler, Chairman, President and CEO of MainSource Bank first announced the program on Thursday in a press release.

"MainSource Bank prides itself on community involvement. We recognize that families and individuals need an avenue to rebuild any personal loss that they may have incurred as the result of a natural disaster.

"Our Disaster Relief Loan Program will provide these families and individuals with the financial means to take care of their immediateneeds including shelter, food, clothing and medication. Giving people the opportunity to rebuild their lives is just another way that Main Source Bank hopes to give back to our communities."

Tressler said the Disaster Relief Program is designed to assist victims of a natural disaster during their time of need. The program includes a no closing cost, interest-free loan with no payments for one year to any affected resident in the communities that Main Source serves.

Source: http://www.gcdailyworld.com/story/1436887.html