Disaster Relief Loan Program
Frost is committed to helping businesses impacted by Hurricane Harvey recover and rebuild as quickly as possible. We understand that this is a challenging time and are offering two options to give you immediate access to funds:
- Disaster Relief Bridge Loan provides immediate cash flow while you wait to receive insurance proceeds.
- Disaster Relief Term Loan provides immediate cash flow for losses not fully covered by insurance.
When disaster hits, get the help you need to finance the timing difference between your insurance claim and receipt of insurance proceeds. Frost’s Business Disaster Relief Bridge Loan provides financing to repair or replace your business’s disaster-damaged property, inventory, supplies, machinery and equipment.
- $5,000 – $100,000
- Floating WSJ prime
- Principal and interest due at maturity
- 6 months
- Principal and interest due at maturity
- Primary source of repayment will be collection of insurance proceeds
- Existing Frost business customer
- Provide copy of insurance claim
When disaster hits, get the help you need so you can get back to managing your business. Frost’s Business Disaster Relief Term Loan provides financing to repair or replace your business’s disaster-damaged property, inventory, supplies, machinery, and equipment and to purchase real estate.
- $5,000 – $500,000
- WSJ prime + 1.75
- Monthly
Customer can choose terms of
- 36 to 60 months
- 6 months interest only, paid monthly
- Followed by up to 54 months principal & interest, fully amortized over the remaining months
- Frost to take assignment of insurance proceeds, if applicable
- Existing Frost business customer
- Borrower must provide current personal and business financial statement if requested amount is greater than $100,000
- Borrower must accept offer within 30 days
- Personal guarantees of all business owners required
- Provide copy of insurance claim, if applicable
Please contact your lender or a Frost loan specialist at 1-866-FROST-TX (1-866-376-7889). All loans subject to credit approval.