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First Niagara offers cheap storm loans

First Niagara Bank launched a special loan program to help borrowers recovering from last week's snowstorm.

The "Good Neighbor Loan" features no interest and no payment due until Feb. 1 and a special reduced interest rate for the life of the loan, currently 7 percent until Nov. 15.

The loans of up to $20,000 are available now to residents of Erie, Niagara, Orleans and Genesee counties who meet the savings bank's standard credit requirements. First Niagara is a subsidiary of Lockport-based First Niagara Financial Group.

"The destruction and needs of our community are unprecedented," said Michael Giaquinto, executive vice president of consumer banking, in a press release. "The past few days have been extremely difficult for all of us, and we want to make sure we are doing everything we can to lend a helping hand to our community."

Customers can apply for the loan at any branch or by calling (800) 421-0004.

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