WHEELING, W.Va., July 9, 2012 /PRNewswire/ -- In an effort to assist West Virginia, Ohio and western Pennsylvania residents affected by recent series of heavy storms that have caused widespread damage, WesBanco (NASDAQ: WSBC) officials have announced a Storm Damage Loan Program for residents and small business owners who have suffered damages as a result of the storms over the last week.
Qualified residents and business owners can apply immediately for a 5% APR fixed rate loan that can be repaid over a maximum 5-year period. Eligible applicants can borrow up to $5,000 per residence or business for any improvements or other items needed as a result of the most recent storm damage. There will be no loan fees or closing fees on these loans. Approval of the loans will be subject to the bank's standard underwriting.
"The storms of the past week have caused significant damage and created hardships for many of our customers, employees, neighbors and friends in West Virginia, Ohio and western Pennsylvania," said Paul M. Limbert, President & CEO of WesBanco, Inc.
"Over the years we have supported our local communities with a wide variety of banking programs and have in the past offered Storm Damage Loan Programs and Flood Relief Loan Programs. I am pleased that WesBanco can once again provide assistance in the rebuilding efforts of our local communities for those residents and small business owners who have suffered storm related damages with these very affordable loans. For example, the monthly payments for a $5,000, five-year loan would be $95.13," Limbert said.Applications for Storm Damage Loans are now being taken by telephone or in person at any WesBanco location.