Sovereign Bank offers flood help

Sovereign Bank wants to offer assistance to businesses, consumers and nonprofit organizations affected by recent flooding in northern Massachusetts and southern New Hampshire.

“Our hearts go out to the communities affected by the recent rain storms and flooding,” said Joseph P. Campanelli, president and CEO of Sovereign Bank New England. “We understand that the immediate economic recovery of the region is of the utmost importance and that is why we are providing financial assistance to as many people as we can.”

The program introduced by Sovereign includes special loan products for business owners and consumers, deferment options for Sovereign loans, and $100,000 in grants to nonprofit organizations offering services to members of the communities that were impacted by the rains.

Low-interest loans up to $25,000 are being offered to small businesses to aid in needed repairs and clean-up associated with the flooding. Loan payments for existing small business customers may be deferred for up to three months.

Consumers who have sustained property damage also may receive assistance from Sovereign in the form of low-interest loans for up to five years with no fees. Current auto, mortgage and home equity loans held by Sovereign customers affected by the flooding may deferred.

For more information, call 1-877-SOV-BANK (1-877-768-2265). – TRACIE STONE