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BoI has E20m fund for flood victims

Friday, February 07 16:07:19

Bank of Ireland today announced the allocation of a new E20m fund as it reaches out to businesses and homeowners affected by the recent bad weather and heavy flooding.

Applicants to the fund will also be able to access priority loan approval, often within 24 hours.

It gives emergency access to discounted lending for personal, business and agri customers and the Bank will also accept applications from non- customers.

From today homeowners, sole traders, businesses and farmers carrying out remedial work or repairs up to E25,000 will be eligible to avail of discounted rates for personal loans at 7.2pc APR and business loans at 5.24pc. Customers in difficulty are encouraged to visit one of the Bank's 250+ branches across the country whose doors are open to those impacted and in urgent need of lending facilities.

Commenting on behalf of the Bank, David Merriman, Regional Manager - South West, said: "We are acutely aware of the hardship caused by recent unprecedented levels of rainfall, flooding and stormy conditions. Many homes, businesses and farms have experienced severe damage and access to financial support is vital in supporting them at this time. Some customers may also have a funding requirement for additional working capital and we want to help provide that funding."

"This new E20million fund further confirms Bank of Ireland's commitment to supporting homeowners and businesses with borrowing requirements. It clearly demonstrates that Bank of Ireland wants to meet customers' needs, anytime, anywhere," Merriman concluded.