BMO Harris Bank offers help to dentists affected by Alaska earthquake
February 25, 2019
Anchorage, Alaska — Association members affected by the 2018 earthquake in Alaska may receive additional financial assistance from BMO Harris Bank, the practice finance lender endorsed by ADA Member Advantage.
BMO Harris Bank is offering a business loan up to $1 million with no payments for the first 90 days, according to the Alaska Dental Society. ADA and Alaska Dental Society members will also receive a 0.5 percent interest rate reduction on these loans and special priority processing.
“Recovery efforts continue with many homes, businesses and public buildings affected by the quake,” said Dr. Dave Logan, Alaska Dental Society executive director. “Roughly 25 dentists (out of the 300 members in the area) sustained damage ranging from $5,000 to $50,000.”
A magnitude 7.0 earthquake struck north of Anchorage, Alaska, on Nov. 30, 2018, at 8:29 a.m. local time, according to the United States Geological Survey. More than 170 aftershocks in magnitude 3 or above followed through Dec. 3, 2018, including a magnitude 5.7 aftershock within minutes of the initial earthquake.
According to the Anchorage Daily News, the earthquake knocked out power and caused major damage on roads, highways and buildings in the area. No deaths were reported.
“The Alaska Dental Society members are grateful to the ADA and BMO Harris Bank for providing an additional option for ADA members in the Anchorage and Matsu area that were affected by the Nov. 30 earthquake,” Dr. Logan said.
For more information on the ADA’s endorsement, visit bmoharris.com/dentists.