Santander-Providence home loan program announced

SANTANDER, MAYOR TAVERAS ANNOUNCE SANTANDER-PROVIDENCE HOME LOAN PROGRAM

Program Goal to Lend $24 Million to Low to Moderate Income  Borrowers in Providence

Providence, RI, December 11, 2014
– Providence Mayor Angel Taveras and Santander Bank, N.A. are pleased to announce the launch of the Santander-Providence Home Loan Program to promote home ownership opportunities for low- and moderate-income borrowers in the City of Providence. 

As part of this program, Santander has set a lending goal to make at least $24 million in home mortgage loans over the next three years to low- and moderate-income borrowers in Providence who meet Santander Bank credit guidelines.

“Owning a home has long been part of the American dream; we're excited about this program and what it will mean in helping to turn that dream into a reality for prospective low-and moderate-income homebuyers in our city,” said Angel Taveras, Mayor of Providence. “This is an important investment in our community and in the relationship between Santander and the City of Providence, which will benefit residents for years to come.”

“As a native of Providence I am delighted to represent Santander as we continue to build our relationship with the City of Providence in this way,” said Mike Lee, Managing Director of Commercial Banking for Santander. “At Santander, we are committed to our communities and their progress. Setting this goal for mortgage lending to low- and moderate-income customers is just one way we can support this vibrant city.”

(release from Santander Bank and City of Providence)