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3/27/2020 |
Member News |
COVID-19 Update: First Merchants Bank |
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During these uncertain times, First Merchants is providing financial assistance to those who may need it. Please visit the COVID section on our website for up-to-date information: https://www.firstmerchants.com/covid-19.
For Consumers:
• COVID-19 impacted clients may request to defer payments on installment and auto loans, mortgage loans and home equity loans for up to 90 days without impacting their credit report or incurring late fees during the deferral period.
• The bank is also suspending vehicle repossessions and will not initiate foreclosure actions for residential properties for the next 60 days.
For assistance with any of the above, please call (877) 556-8721.
• Beginning March 25, 2020, we now have the ability to assist our impacted clients by offering a short term, unsecured installment loan.
Clients may call and any Banking Center to speak with a banker.
For Commercial Clients:
• COVID impacted clients may request modifications to conventional, SBA 504 and 7A commercial loans. Structures include principal deferrals, interest deferrals and other loan structures.
Please direct commercial clients to contact your relationship banker or Customer Service for assistance.
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