Ledyard National Bank has recently launched a new program designed to foster financial independence and housing security in its communities. The Renters Advantage Loan, tailored to low-income individuals or families, assists those who are searching for affordable housing but find it challenging to cover the upfront financial burden of having to pay first / last month’s rent and security deposit requirements upon signing a lease.
The Renters Advantage Loan program eases this burden by offering an unsecured loan to cover those cash outlays. With amounts up to $5,000, no closing costs, no minimum credit score and a truly simple application, this initiative showcases Ledyard’s commitment to making life better for all community members. Borrowers are eligible for the loan if they are New Hampshire residents with a maximum household income of $75,600 or if they are Vermont residents with a maximum household income of $68,560.
“We understand the difficulties that some individuals face when attempting to secure appropriate housing, given the upfront costs,” said Josephine Moran, Ledyard Bank’s President and CEO. “This new program is a reflection of our belief that everyone deserves the chance to improve their financial circumstances and living conditions. Our program is a stepping-stone towards achieving that goal. Ledyard’s Renters Advantage offers more than just a loan; it’s about changing someone’s life.”
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