Consumer Loans Forbearance

Consumer Loans Forbearance

 

We hope that you, your family and friends are safe and healthy at this time. Here at Ponce Bank we’ve been working hard to process and respond to everything that’s happening and we want you to know that we are here to help. If due to COVID-19 related hardship you find yourself unable to make the payments on your Consumer Loan we can offer assistance through our Ponce CARES Consumer Loan Forbearance Program.

WHO IS IT FOR?

We can offer you Commercial Loan forbearance assistance if you have a Ponce Bank consumer loan that was in good standing (current) as of Febrary 15, 2020.

WHAT DOES IT DO?

The Ponce CARES Consumer Loans Forbearance Program will allow you to:

  • Stop paying your Consumer Loan for up to 3 months

  • No penalty payments

  • It will NOT affect your credit score

  • Your missed payments will simply be added to the end of your loan term

How to Apply - Current Ponce Bank Customers

1. Download and fill out this form

2. Upload the above document via the secure portal.

Let’s find the best possible solution.

 

If due to COVID-19 related hardship you find yourself unable to make the payments on your Consumer Loan we can offer assistance through our Ponce CARES Consumer Loan Forbearance Program.

What this means is that you can stop paying off your Consumer Loan for up to 3 months and there will be no penalty payments and it will NOT affect your credit rating. As soon as you are able, start making payments and your missed payments will simply be added to the end of your loan term. If at the end of 3 months, you’re still struggling financially, call or visit us and we’ll work with you to find the best possible solution.