Furlough loan program
We're here to help you bridge the gap during the Government Shutdown.
Supporting You Through the Government shutdown
If you’ve been affected by the government furlough, Blackhawk Bank & Trust is offering a special Furlough Loan Program designed to provide short-term financial relief at an affordable rate.
Our goal is to help you focus on what matters most — your family, your bills, and your peace of mind — while you wait for regular pay to resume.
Program Details:
- 120-Day Single Pay Loan (subject to credit approval)
- 4.00% APR* Non-Revolving Line of Credit linked directly to your Blackhawk Bank & Trust checking account
Loan Advances:
- Borrow up to 3 months of furloughed payroll net income.
- Advances may be restricted to occur at the frequency of your regular government payroll schedule.
- Limited to your documented net government pay.
Special Provision:
- No advances will be made once the Federal Government shutdown ends.
- All accrued interest will be waived if the loan is paid in full by the loans maturity date OR 30 calendar days after the shutdown ends/wages from the government resume - whichever comes first.
Applicant requirements:
- Must have (or open) a Blackhawk Bank & Trust deposit account at loan closing.
- Loan advances will be deposited directly into the BhB&T account.
- Please provide your most recent paystub showing net pay and proof of furloughed status.
Whether it’s to cover essential expenses or unexpected costs, we’re ready to help you stay financially steady until you’re back to work. Call 309-787-4451 and ask for a Furlough Loan Program lender to get started today.
The Annual Percentage Rate (APR) for this non-revolving line of credit is 4.00% fixed. Interest will accrue daily. If the loan is paid in full within 30 calendar days after the federal government resumes operations (or 30 days after the shutdown ends, whichever comes first), all accrued interest will be waived. Example: A $3,000 loan at 4.00% APR for 120 days will result in a finance charge of approximately $39.45, for a total payment of $3,039.45 due at maturity, if interest waiver provisions are not met. Subject to credit approval. Fees, other terms, and conditions may apply.