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COVID-19 Loan Relief Program

As a community bank, Horicon Bank has 124 years of history caring for our customers and communities - especially in times of need. We are committed to supporting you and your business through the uncertainties of the COVID-19 crisis. 

Our COVID-19 Relief Program is designed to alleviate some of the financial hardships you may face as a result of illness or workplace changes.

Relief For Consumers:

  • Consumer Credit Card Payment Relief -  We will provide temporary payment relief assistance, with a “skip a payment” feature. Customers will be able to skip up to two minimum payments; finance charges will continue to accrue. For more information about payment relief, please call 888.343.3040.
  • Consumer and Mortgage Loan Payment Deferral Program - If you are facing a financial hardship due to COVID-19, Horicon Bank will make available a payment deferral for up to 90 days. For assistance or questions, contact your Horicon Bank lender or call our Customer Support Center at 888.343.3040.
  • Consumer Loan Late Fee Suspension – We will suspend late fees on loan payments for the months of April, May, and June 2020, providing customers the opportunity to adjust to workplace changes.
  • Suspension of Foreclosure Program – We will suspend foreclosure actions on residential properties for 60 days, unless required by federal or government agencies. For assistance or questions, please contact your Horicon Bank lender.
  • Repossession Halt Program – We will not initiate any new repossession actions for 60 days for vehicles, RVs, or marine craft financed by Horicon Bank. For assistance or questions, please contact your Horicon Bank lender.

Relief for Business Owners:

  • Business Loan Payment Deferral Program – If your business is facing a financial hardship due to COVID-19, Horicon Bank will make available payment deferral plans up to 90 days. For assistance or questions, contact your Horicon Bank lender or call our Customer Support Center at 888.343.3040.
  • Business Credit Card Payment Relief – We will provide temporary payment relief assistance, with a “skip a payment” feature. Customers will be able to skip up to two minimum payments; finance charges will continue to accrue. For more information about payment relief, please call 888.343.3040.
  • Business Loan Late Fee Suspension – We will suspend late fees on loan payments for the months of April, May, and June 2020, providing customers the opportunity to adjust to workplace changes.
  • SBA Loan Programs – The U.S. Small Business Administration (SBA) is offering loan/interest federal disaster loans to assist businesses affected by COVID-19.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act

The CARES Act allocated funding to help small businesses during the COVID-19 crisis and resulting economic hardship. The Paycheck Protection Program (PPP) is a loan from the Small Business Administration that helps businesses keep their workforce employed during the crisis.  Horicon Bank is no longer accepting new applications at this time. 

 

Official PPP Loan Forgiveness

If you received funding through the SBA’s Paycheck Protection Program (PPP), you may be eligible for whole or partial loan forgiveness.  If you acquired your loan through Horicon Bank, you will need to submit your application for forgiveness and supporting documentation to Horicon Bank as well.  

Horicon Bank continues to actively monitor ongoing SBA guidance, as well as potential legislative changes currently proposed in Congress.  This remains a very fluid situation and consequently, we are requesting that you refrain from submitting any forgiveness applications at this time.  We are hopeful to open up our forgiveness process at some point later in August.  

Additional information will be forthcoming in the near future.  Horicon Bank will post further updates here as they become available, so please check back to this page regularly.  We understand how important this is to you, and appreciate your continued patience as the rules and process continue to evolve.  We remain confident you’ll have plenty of time to request your loan forgiveness.

Other SBA Disaster Loan Assistance Available

SBA EIDL DISASTER LOAN PROGRAM

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