Long Island's Gold Coast Bank Launches Rescue Effort in the Aftermath of Hurricane Sandy

Gold Coast Bank Logo

ISLANDIA, N.Y., Nov. 7, 2012 (GLOBE NEWSWIRE) -- Gold Coast Bank today announced that it plans to extend upwards of $1M in Sandy Relief Loans to Long Island businesses affected by recent Hurricane Sandy. Founded by local business owners, Gold Coast Bank is uniquely positioned to help others in need.

Upon viewing the devastation on both the north and south shores across Long Island, Gold Coast Bank board members brainstormed ways they could help. "We just knew that we had to help businesses get back up and running. Local restaurants, including many that have been mainstays in our communities, have to rebuild their entire facility- and they need to keep their staff employed in the process. Without additional cash flow this could be catastrophic for many," board member and J. Kings Chief Customer Officer John King said.

"Companies that need immediate financial help should call us about our Sandy Relief Loans," stated Joe Perri, President and CEO of Gold Coast Bank. "We are offering a quick turnaround for all those who qualify and we have made the whole process simpler so that the owner can go back to focusing on the recovery of their business. We'll even go to them if that makes it easier."

About Sandy Relief Loans
Up to $100,000k
3.5 yrs- includes 6 months interest only
3.9% fixed
$500 fee

About Gold Coast Bank

Headquartered in Islandia with additional individual branches located in Huntington, Setauket, Farmingdale and Mineola, Gold Coast Bank is a New York State chartered bank whose popularity and sterling reputation stems from the strong, long-term relationships it has cultivated among its large and diverse customer base. A member of the Federal Deposit Insurance Corporation (FDIC) and one of Long Island's financially strongest de novo banks, Gold Coast Bank has more than $190 million in assets and prides itself on providing businesses and individuals with quality lending and banking services. Fulfilling a unique niche within the Long Island commercial banking sector, Gold Coast Bank delivers specialty lending capabilities in a variety of areas that include real estate, equipment finance, and lines of credit for privately owned businesses. For more information about Gold Coast Bank, please visit www.gcbny.com.

The Gold Coast Bank logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=15572

CONTACT: PRESS CONTACT: Kerry Gillick-Goldberg 516-455-3179 kerry@kggenterprises.com BANK CONTACT: Joe Perri, President and CEO of Gold Coast Bank 1.631.233.8600 jperri@gcbny.com

Source:Gold Coast Bank