St. Louis Floods - Loan Payment Deferral Program

Effective August 2, 2022, Enterprise initiated a loan payment deferral program for consumer clients impacted by the recent floods in St. Louis and surrounding counties.

This program is available for consumer loans excluding credit cards and overdraft protection loans. Consumer clients may request to defer two (2) monthly loan payments per consumer loan.

Eligibility requirements:

• Your loan is in good standing, as follows:
  • The loan must be current or within the grace period, AND
  • The bank has received the three (3) most recent consecutive monthly payments on the loan you are requesting to defer
• Financial difficulty is the result of the St. Louis, Missouri floods that took place in July 2022
• Your place of employment, primary residence or, if a mortgage loan, the property securing the mortgage loan, must be located in one of the following areas: 
  • Missouri counties of St. Louis, St. Charles, Jefferson or the city of St. Louis
• The loan must not be subject to:
  • A current offer for another retention workout option;
  • An approved liquidation workout option;
  • An active and performing Repayment Plan, Payment Deferral Plan or other non-disaster-related Forbearance Plan; or
  • An active and performing mortgage restructure

How do I apply for this deferral?

A DISASTER - CONSUMER PAYMENT DEFERRAL REQUEST AND AGREEMENT can be downloaded here. The request must be signed and returned to the bank using one of the following methods:

• Scan and email to [email protected] (preferred method) 
• Fax to (314) 810-1070 
• Visit any branch location with drive-up or night-drop capabilities 
• Mail to Enterprise Bank & Trust (least preferred method)
  RMG Loss Mitigation
  444 E Santa Fe
  Olathe, KS 66061

I can't download or print the form. What should I do?

Contact your local branch or call (833) 490-2480 and ask for a copy of the DISASTER - CONSUMER PAYMENT DEFERRAL REQUEST AND AGREEMENT to be mailed or faxed to you. Complete and sign the request, and return it to the bank using one of the above methods.

I have more than one consumer loan at Enterprise. Can I request a deferral for each loan?

Yes, borrowers can submit a request to defer two (2) payments for each loan. 

How will this deferral affect any auto-debits?

Any auto-debits set up by Enterprise will be suspended for the deferred payments. However, due to the timing of the request, payments already in process may not be stopped. If a payment cannot be stopped, Enterprise will use reasonable efforts to reverse and refund the payment as quickly as possible. If Enterprise is unable to reverse a payment before it processes, Enterprise will defer the next regularly scheduled payment. Any fees assessed by Enterprise will be waived. You are responsible for stopping and restarting any auto-debits initiated through online banking or Bill Pay.

When will the deferred payment be collected?

The payments will be deferred to the maturity date of the loan, or earlier upon the sale or transfer of the property, refinance of the loan or payoff of the interest-bearing unpaid principal balance. Interest will continue to accrue on the outstanding balance. Additional interest will not be charged on any amounts deferred. As a result, the final payment may be larger than if payments were made as originally scheduled.

How does this impact finance charges?

Deferring a payment will result in you paying a higher total finance charge than if you made your payments as originally scheduled.

Will the deferral impact my escrow amount?

Deferring a payment could result in a change to escrow balances. This depends on the amount of and when future payments are received. Any changes to escrow will be reflected in the next scheduled escrow analysis.

Will my credit score be impacted by the deferral?

Payments deferred under this program will not be reported to the credit bureau as past due. For more information about your credit score, visit: consumerfinance.gov/consumer-tools/credit-reports-and-scores/

How long is this program available?

This program will be available as long as it is deemed necessary. Enterprise reserves the right to terminate this program, without notice, at any time. Termination of the program will close the application window, but will not affect clients already approved for this deferral.

I need more payment relief. What should I do?

Please call (833) 490-2480. A Resolution Management associate will answer your questions and determine the next steps.

I would like to speak to someone about the program. Who should I talk to?

Please call (833) 490-2480. A Resolution Management associate will answer your questions and determine the next steps.