Bank of Hawaii has initiated four financial assistance programs to help those affected by Typhoon Soudelor in Saipan. The assistance programs provide either access to cash via special loan programs for qualifying borrowers or relief on existing Bank of Hawaii loans through loan extensions or forbearances. 

"Our hearts go out to all of those who suffered home or property damage from the typhoon," Hobbs Lowson, Bank of Hawaii West Pacific Region manager, said Wednesday. "We realize that recovery may be a slow process and dealing with the aftermath is not easy. The financial emergency relief programs are designed for fast approval and quick funding to allow recovery as swiftly as possible." 

Depending on the particular special loan program, funds may be used to 1) provide immediate cash relief for emergency supplies and living essentials; 2) repair homes and/or vehicles, replacement of living essentials, or to bridge working capital needs; or 3) make vehicle purchases at dealerships located on Saipan. The loan program includes low interest rates on loans, no payments for the first three months, fast approval and quick funding, loan terms of 24 or 60 months and loan amounts up to $25,000. 

Information and specific details on each of the programs are available by visiting the Chalan Kanoa branch or calling Bank of Hawaii at 670-235-5420. Once services have been restored, the bank can be reached at 670-322-4200. 

Bank of Hawaii has two branches in Saipan: Garapan and Chalan Kanoa.