Mission Bank provides economic relief to customers in Eastern Kern County by offering modified loan payments
BAKERSFIELD, Calif. (March 21, 2020) – Mission Bank announced today its COVID-19 Loan Modification Program. Temporary payment relief will be offered to borrowers in response to the widespread effects of the COVID-19 crisis. Impacted customers will be able to defer payments for up to 90 days, or make interest-only payments for up to 180 days.
“Businesses are the lifeblood of Kern County. Our commitment is to serve our customers, in order to help stabilize the local economy,” said A.J. Antongiovanni, Mission Bank’s president and chief executive officer. “We know the impact has been sudden and significant. We want to help our customers, and thus the communities we serve, through these unforeseen circumstances.
“Mission Bank’s focus is on business customers. We recognize the need for those businesses to build additional cash reserves during this unprecedented time. Our local communities will see widespread economic decline across almost all industries. However, those communities will rebuild. We see this as an opportunity to cushion the initial decline and aid in the recovery process.”
Mission Bank serves business customers across four counties: Kern, Los Angeles, Ventura, and Stockton. The bank was recently rated by American Banker as the 10th most successful in U.S. for public banks under $2 billion in assets.
Customers can refer to the bank’s website at www.missionbank.com for details, and are encouraged to contact their Mission Bank representative to evaluate the program. The bank is proactively working with individual affected customers on a case-by-case basis.