No-Interest Loans Available to Out of Work Federal Employees
First Dakota National Bank is providing 0% interest loans to federal employees affected by government shutdown. The financial institution has set aside a $5 million fund to provide relief to federal staff.
Through the Federal Employee Shutdown Relief Loan Program, borrowers can apply for loans of up to three months of their net pay. Applicants are not required to be existing customers of First Dakota to apply for the no-interest no-fee relief loan, and this loan program will remain available for 30 days after the federal government re-opens.
“Federal employees affected by the government shutdown are in a very challenging position, through absolutely no fault of their own,” said First Dakota National Bank CEO Larry Ness. “We can’t reopen the government, but our hope is that this program can provide those hard-working people with some relief in the meantime.”
The loan program will remain available to affected federal employees after the government reopens, if applicants need additional financial resources to recover from the impact of the shutdown.
Federal government employees interested in the Federal Employee Shutdown Relief Program are encouraged to talk to a First Dakota banker or visit a local branch for program details.