First Midwest Bank Deploys Loan and Mortgage Deferrals During COVID-19 Pandemic | Northwest Indiana Business Titles

A branch of the First Midwest Bank in Griffith.

Joseph S. Pete

First Midwest Bank is providing assistance to customers – both individuals and business owners – who may be in difficulty because of the coronavirus pandemic.

The Chicago-based bank, which has a large footprint in northwest Indiana, has announced financial aid programs that include loan deferrals, expense assistance and foreclosure suspensions.

“In these uncertain times, our mission to help our clients achieve financial success is more important than ever,” said Mark Sander, President and COO of First Midwest Bank. “Many of our clients may need support that they did not need in the past. We want them to know we’re all in the same boat, and we’re committed to supporting them during a time when they need us most.

First Midwest offers payment deferrals on consumer loans, mortgages, and auto loans with no impact on the credit bureaus. It defers payments for small businesses that are struggling due to workplace closure or family illness, allowing them to defer payments for up to 90 days, also without impacting credit bureaus .

It suspends late fees for consumer loan payments, stop payment fees and certificate of deposit early withdrawal fees until June 30, as well as late fees and stop fees. payment on business loans during this period.

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