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Banks offering programs to aid storm recovery

Two area banks – M&T and First Niagara – are offering programs to help with recovery from last week’s snowstorm.

M&T is offering a discounted rate on small business lines of credit and term loans, as well as providing technical assistance to businesses in need. Along with reduced interest rates, M&T will waive application fees and provide payment assistance and other operational support to small businesses affected by the storm.

The special offers are for Western New York-based businesses only and are available through Dec. 31. Loan decisions are contingent on prospective borrowers’ application and credit qualification. More information is available at 1-800-724-6070 or by visiting an M&T branch or contacting an M&T small business relationship manager.

First Niagara is offering its “YouFirst Neighbor” unsecured loan program to homeowners affected by the storm in Erie, Genesee and Wyoming counties, to address lending needs such as emergency repairs. The program is a fixed-rate, one-to-five year loan, between $1,000 and $10,000 with a 4.99 percent annual percentage rate, for eligible customers. The bank says no application, closing costs or prepayment fees are necessary, but certain conditions and restrictions may apply.

Applications can be submitted through Jan. 15 and can be approved within hours, according to the bank. For details, call 1-800-421-0004, visit a First Niagara branch or