National Bank Of Kansas City Selected For FDIC Small-Dollar Loan Pilot Program

April 15, 2008 (PRLEAP.COM) Business News
Overland Park, Kan. (April 15, 2008) — National Bank Of Kansas City announced today they have been selected by the FDIC to participate in a two-year case study exploring affordable small-dollar loan programs.

National Bank Of Kansas City is one of 30 banks selected as part of the program and the only bank located in the Kansas City metro area. As part of the program, National Bank Of Kansas City is now offering a low cost, quickly processed unsecured short term personal loan to consumers in the Kansas City metro.

“We are excited to be part of the FDIC’s pilot program for small dollar loans,” said Brian Unruh, National Bank Of Kansas City’s executive vice president. “This product offers an alternative to high-interest pay day loans. In addition, the requirement to open a savings account introduces many to a saving component they don’t currently have.”

The loan, which is a safe alternative to quick pay day advances, has a maximum dollar amount of $1,000 and a minimum of $200. The maximum length of the loan is 12 months and the annual percentage rate (APR) is 20%. The APR is fixed for the duration of the loan. In most cases, National Bank Of Kansas City will be able to review and approve or deny the application within 24 business hours. If approved, the applicant will be required to open a Savings Account with a $50 initial deposit. National Bank Of Kansas City has added a short online application for this new product at Those interested in applying for a small dollar personal loan should call Stacy Nickel at (913) 901-5211 or apply online at

About National Bank Of Kansas City
Headquartered in Leawood, Kan., National Bank Of Kansas City ( has an asset size exceeding $985 million. Although National Bank Of Kansas City’s initial strength was mortgage lending via the Internet (, it has expanded and diversified it’s portfolio to commercial real estate loans as well as industrial and consumer loans. Plus, the bank’s retail operations offer a complete menu of personal and business banking options, including online banking. National Bank Of Kansas City currently has branches in Leawood, Kan., Overland Park, Kan., Lee’s Summit, Mo., Liberty, Mo., Platte City, Mo., and Excelsior Springs, Mo.