BayCoast Bank offering new program to support active-duty military, essential government employees, impacted by the government shutdown

SWANSEA, MA  – BayCoast Bank is offering a critical new program to support active-duty military and essential government employees impacted by the government shutdown. 

“Our Emergency Federal Employee Loan Program is designed to provide valuable gap financing to help cover basic living expenses for active military and federal employees who are required to work but are not currently being compensated,” said Nicholas M. Christ, President and CEO of BayCoast Bank. “We truly care about assisting our neighbors and it our hope this program will help ease any potential hardship for individuals and families affected by the government funding lapse.”

With loan amounts available from $1,000 to $15,000, those who qualify for BayCoast Bank’s Emergency Federal Employee Loan Program will receive interest-free financing for 6 months.^*  The anticipated turnaround time for this new loan program, from application approval to funding, is approximately 1-2 business days.

Eligible Federal Government Employees Include:

• Active-duty military personnel
• Federal law enforcement officers (Border Patrol, Customs and Border Protection, FBI, DEA, and U.S. Marshals)
• Transportation Security Administration (TSA) Agents
• Air Traffic Controllers
• Emergency Response Personnel
• Federal Prison and Courthouse Employees
• Emergency Medical Care Providers 

Applications are now being accepted for BayCoast Bank’s Emergency Federal Employee Loan Program.  For more information or to apply, call 508-996-7706, or visit one of our 25 convenient branch locations.

*All loans are subject to credit approval.  Employees of the Department of Health and Human Services, National Park Service, Environmental Protection Agency, National Institutes of Health (NIH), NASA, Department of Housing and Urban Development (HUD), United States Postal Service (USPS), Social Security Administration, Department of Veterans Affairs (VA), and Internal Revenue Service (IRS) are not eligible for this loan program. Emergency Federal Employee Loan Program has a 6-Month Term. No payments for the first 5 months with a balloon payment of the entire outstanding principal balance due at the end of the loan term or within 15 days of receipt of back pay for time worked without compensation. This offer is subject to change and may be withdrawn at any time.