Galveston, TX – Moody Bank announces a loan program to assist individuals and businesses impacted by the COVID-19 coronavirus pandemic. Moody Bank is offering a 180-day single-pay loan at a fixed 3.25% APR (annual percentage rate) to qualified borrowers (individuals and businesses) within the bank’s service areas that have been affected by the pandemic. There are no fees associated with these Pandemic Relief Loans.
Victor Pierson, Moody Bank President and CEO, said, “In a time when the world faces more uncertainty than ever, we want you to know that Moody Bank is here for you. Our mission to build long-lasting customer and employee relationships by living our core values of respect and delivering excellent financial services is more important today than ever before.”
Helping the community in times of need is nothing new for Moody Bank. In the bank’s 112-year history, Moody Bank has supported customers through everything from natural disasters to downturns in the economy. Pierson added, “We implemented this recovery loan model after Hurricanes Ike and Harvey with great success. We passed this model on to other communities impacted by natural disasters and today it only makes sense to restart this lending program for COVID-19. It is an immediately useful recovery tool and is designed to sustain businesses and individuals throughout this difficult time.”
Individuals and businesses looking to apply for a Pandemic Relief Loan should contact their local banking center for more information on how to apply. Although our lobbies are currently closed, our banking centers remain staffed for appointments and our employees are available via phone or email. A full list of banking centers and contact information can be found at www.moodybank.com/about-us under “Locations.” Our customer service line is also available at (855) 259-8075.
All loans are subject to credit approval. Moody Bank member FDIC and is an Equal Housing Lender.