Leader Bank responded to the fatal condominium fire by offering temporary no-interest loan assistance.
As the only community bank headquartered in Arlington, Leader Bank thanks the efforts of the town’s first responders and work crews, and our sympathies and condolences go out to the family of the man who perished in the blaze as well as all those residents affected by the fire, bank President and CEO Sushil K. Tuli said in a statement.
“Saddened to hear” of these events, a statement from the bank says Leader Bank is willing to offer personal loans of up to $2,500 to any qualified resident of the Brookside Condominium Complex affected by the fire.
Leader Bank will offer such loans at no interest (0.00% annual percentage rate) for a period of one year, with no down payment or fees required. The total amount borrowed would be repaid in full over 12 equal monthly installments of $8.33 per $100.00 borrowed. Only residents of the Brookside Condominium Complex at the time of the fire are eligible for these personal loans, and all applications must be received by Leader Bank on or before June 1, 2015.
“Leader Bank hopes that this temporary assistance will help our friends and neighbors affected by this devastating fire,” Tuli said in the statement. “We believe these loans will allow those residents to obtain temporary shelter and purchase personal necessities until they receive their homeowner’s or renter’s insurance proceeds.”
Any eligible resident of the Brookside Condominium Complex who wishes to apply for a personal loan on these terms should contact the Bank’s East Arlington branch at 781-641-3900, its Arlington Center branch at 781-641-0220, or its Arlington Heights branch at 781-641-8800.
Leader Bank is a nationally chartered bank founded in 2002 with six full-service branches in Arlington, Belmont, Burlington and Cambridge. Leader Bank offers a full range of personal and business banking products including free personal and business checking accounts, commercial and residential lending products, home equity lines of credit, deposit products with highly competitive rates and free online banking and bill payment services.
This report was published Tuesday, May 5, 2015.
