1 percent home repair loans, grants available

Monday, November 25, 2002

Loans at 1% interest rate are available in Buena Vista County through Rural Development for eligible families to make repair loans to homes they already own.

"This is a great opportunity for families who need to make repairs to their homes but can not afford to repay a bank loan," said Arnold R. Thomas, Community Development Manager for the Storm Lake Rural Development office that serves Buena Vista, Ida and Sac Counties for the 504 Repair Program. "With the low interest rate and up to 20 years to repay the loan we can help the family finance badly needed repairs that they may have been putting off for a long time. In some cases we may be able to help with grant funds that do not require repayment at all."

Rural Development is part of the United States Department of Agriculture and can be reached at the following address: USDA Rural Development, 1619 North Lake Avenue, P.0. Box 1107, Storm Lake, IA 50588, Phone 712-732-1851, or email: arnold.thomas@ia.usda.gov. The office is open Monday through Friday.

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