To assist BMT personal clients, we have developed the BMT COVID-19 Personal Relief Loan, an unsecured loan, which is now available to existing BMT deposit or loan customers.
Benefits:
- Apply online
- Expedited underwriting
- Easy close via appointment
- Access to liquidity with no collateral required
Features
| Term | Up to a 60-month installment loan. Terms available from one (1) to five (5) years. |
| Loan Amount | Minimum loan is $2,500, up to a maximum loan of $25,000 |
| Collateral | None required. This is an unsecured term loan. |
| Rate | 5.99% APR*, which is below typical unsecured loans and traditional credit card rates. |
| Auto Deduct | Debit of monthly payment is required from a BMT checking account.* |
How To Qualify
| Credit Score | A minimum credit score of 680 is required. |
| Debt-to-Income | A maximum of 43% debt-to-income is required. |
| Offer Available | Current BMT Customer (deposit or loan). |
| COVID-19 documentation disruption is required | This is evidenced by employer pronouncement or Government Action/Notification which could be Local, County, State, Federal. |
| Income Verification | Pay voucher within 60 days of pronouncement. |
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