SmartMoney Mondays: Natural disasters emergency funding

HONOLULU (HawaiiNewsNow) - When natural disasters like volcanic eruptions and flooding hit Hawaii, financial disaster can follow. But what is emergency funding and how can folks affected on the Big Island, Kaua'i and East Honolulu take advantage of these programs? If you've been affected, ask your bank about programs that can help. At a time in which you can't go home or can't work, you'll need cash for emergency supplies and living essentials. Or you can use the money to repair a home or replace a vehicle or keep your business in business.

Since your ability to earn a living may be interrupted, some banks may provide temporary relief on your current loan. In addition, special programs may offer assistance in the form of lower interest rates on loans, loans with no payments for 90 days, faster approval for funding, and reduced payments with loan terms up to 60 months. In times of crisis, financial institutions should be there to help relieve stress and worry so customers can tackle the more important task of rebuilding their lives and their communities.

So if you or someone you love has been affected by the volcano or floods make sure you reach out to a bank you trust to see what programs can help you get through this difficult period and back on your feet.

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