TMF Implements Disaster Relief Program for Existing Borrowers Providing Flexibility in Payment TermsEmail This Share This Tweet This
by David McCaskill, TMF Senior Vice President of Loans
Many of the churches, members and neighbors throughout the Hurricane Harvey disaster areas have witnessed unprecedented and devastating destruction that will require immediate relief, as well as longer-term assistance. We want them to know that TMF will be there, continuing to assist wherever possible.
To aid in the recovery effort, TMF is implementing a disaster relief assistance program that provides a reduction in interest rate and options to defer payment for up to four months.
We ask churches with loans from TMF that even if they continue to have sufficient cash flow to service debt under the existing terms, we hope they will use the savings from the reduced interest rate to help others heal and rebuild after this terrible disaster. In a sense, this is a way for TMF to provide financial aid, through them, to those most in need.
We know that in the midst of incomprehensible loss, these churches are providing vital aid and comfort in their communities. We will continue to look for ways to help them find the resources they need, so they can continue to help others.