Bank offers economic relief program Larry Ness, president and CEO of First Dakota National Bank, announces an Economic Relief Program. First Dakota has set aside $2 million to assist those people who have recently been laid off from their jobs due to the economy. The bank will offer a short-term loan for $3,000 to be advanced in increments of $500 for six months at a 3% APR with no closing costs*. Ness said, â�?�?We believe that it is important to keep our communities together during stressful times. We know that many businesses have felt the tightening of the economy and have unfortunately had to lay off workers. These events will eventually pass and until that occurs, we want to help.â�? These loans are meant to provide fast, short-term relief so laid off workers can pay their mortgages and monthly living expenses. â�?�?If we can provide relief and keep skilled workers in our communities, everyone benefits. We hope we can ease the process until times change,â�? said Ness. With total assets exceeding $700 million and a financial team of over 250 dedicated banking professionals, First Dakota has 13 offices including: Chamberlain, Kimball, Oacoma, Parkston, Salem, Vermillion, Wagner, with two locations each in Yankton, Mitchell, and Sioux Falls. Additionally, it has loan production offices in Corsica, Mitchell, and Platte, and in Elgin, Hastings, and Ogallala, NE. First Dakota was founded in 1872 and holds the Dakota Territory's first bank charter. As South Dakota and the upper Midwest have evolved, so has First Dakota. Today, First Dakota offers one of the broadest arrays of financial services in the region, including Internet Banking at firstdakota.com, eStatements, eMobile Banking, Bank-to-Bank eTransfers and online cash management for business. *No closing costs offer currently good through Feb. 28. $500 will be advanced to your First Dakota checking account or by Cashiers Check each month for six months. Payments begin one month after the sixth payment. On a $3,000 loan for 29 months with an APR of 3 percent, your monthly payments will be $130.55. Subject to credit approval, which will be based on income prior to lay-off. Will need documentation to confirm lay off in prior 90 days. Other terms and conditions may apply. Not valid with other discounts or offers.
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