Short-Term Loan Program

Borrower Eligibility:
1. Customers of Citizens Bank of Edmond with an existing direct deposit from the federal government that is currently without federal funding received within the most recent 30 days of the federal payment disruption date.
2. Not overdrawn for more than 5 days in the previous 12 months.
3. No current or prior charge-offs with Citizens Bank of Edmond.
4. Only 1 loan per person.
5. Not a current employee or director of Citizens Bank of Edmond.

Funding: Loan proceeds will be funded/deposited into the borrower’s Citizens Bank of Edmond deposit account.

Loan Repayment: The loan has an annual percentage rate of 0% and must be repaid within three months of funding. The payments will be split into two equal installments, with the first payment due in 60 days of funding and the second due in 90 days of funding.

Credit Approval: None

Loan Amount: Loan amount will be equal to the most recent 30-days’ (one month) worth of documented direct deposit(s) from a federal government source, not to exceed $7,500.00.

Documentation Required:
1. Loan application
2. Lender approval worksheet
3. Signed loan documents

For more information or to ask any questions you may have, please call us at 405.341.6650 or email us at help@mycitizens.bank.