Lawrence, Mass (September 7, 2023) |
In response to the severe weather that impacted several communities in the region, Merrimack Valley Credit Union (MVCU) is offering a limited-time personal loan program that will help homeowners make needed repairs for damage caused by the August floods.
MVCU’s Flood Disaster Relief Loan offers homeowners in owner-occupied primary residences up to $20,000 at a fixed 3.59% annual percentage rate (APR), with a maximum repayment term of 66 months. The new loan program is available from now until Oct. 31, 2023 and is subject to credit approval.
The loan is available to residents of Andover, North Andover, Haverhill, Lawrence, Methuen and Wilmington, Mass. Applicants must provide a credit application, income documentation, a contractor-prepared work order and estimated cost of repairs, and proof that the loan proceeds will be paid directly to the contractor.
“I’m so grateful for MVCU’s leadership in our community’s recovery effort. This initiative will make a meaningful difference for those who were hardest hit by this summer’s devasting weather events,” said Mass. State Senator Barry Finegold.
To learn more about MVCU’s Flood Disaster Relief Loan or to apply, visit MVCU.com/flood or visit one of our area branches to speak to an MVCU team member in-person.
APR = Annual Percentage Rate. Limited time offer subject to change without notice. Available for applicants located in specific flood disaster areas and subject to individual credit worthiness. The monthly payment per thousand for 66 months at 3.59% APR is $334.87. Applications must be received by October 31, 2023.
