Pioneer Bank Launches Community Disaster Loan Program

Mankato, MN – July 19, 2024 – Pioneer Bank is proud to announce the launch of the Community Disaster Loan Program, designed to provide financial assistance to homeowners and renters for costs associated with the cleanup and recovery related to the disaster for community members in the counties where their branches are located (Blue Earth, Nicollet, Watonwan) and the countries 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.

“At Pioneer Bank, we are deeply committed to supporting our community through challenging times,” said David Krause, CEO of Pioneer Bank. “We’ve set aside $500,000 of below market rate, unsecured loans for households. The maximum loan amount under this phase is $5,000. This phase expires on July 31 or when all $500,000 of funds have been committed. The business phase includes a pool of $2,500,000 of below market rate funds with a maximum loan amount of $20,000. It expires on August 9 or when all loan funds have been committed.”

Program Highlights:

• 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.

• Below market fixed interest rates.

• Even lower interest rates for Pioneer Bank customer.

• Online Applications Only: Streamlined process to expedite assistance.

For more information and to begin your application, visit https://www.bankwithpioneer.com/community-disaster-loan-program.html

*Offer of credit is subject to credit approval. Limited funds available.

Krause said there are also federal government assistance programs available to households and businesses impacted by the flooding. Pioneer Bank can serve as a resource for those programs as well. You can contact them at https://www.bankwithpioneer.com/contact.html or call 507-344-4580. Pioneer Bank Launches Community Disaster Loan Program