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Thursday, May 5, 2016

Low interest loans available for rural water wells

Monday, January 9, 2012

Officials with the South Central Ozark Community Improvement Corporation (SCOCIC) and South Central Ozark Council of Governments (SCOCOG) have announced that funding is still available for rural water well assistance.

The non-profit corporations have received grant funding in the amount of $150,000 from the Community Development Block Grant (CDBG), and $300,000 USDA Rural Development Household Water Well System Program.

The grant funding will be used to establish a revolving loan fund program for eligible homeowners within the seven-county region of Douglas, Howell, Oregon, Ozark, Shannon, Texas and Wright counties.

The homes must be located in areas not currently served by municipal water systems.

The applications were developed for the respective funding agencies by SCOCOG staff earlier last year.

Eligibility and information pertaining to the low-interest loan program includes proof of property ownership and occupancy (no rental properties or new construction); combined household income less than $39,043 per year; loan recipient must pay a minimum of $250 toward total project cost; ability to make payments at 1% interest rate over a maximum of 20-year period

The maximum loan amount is $11,000.

For more information and/or to receive an application and discuss possible assistance, please call 417-256-4226.

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Depending on the remaining interest left on your current loan and available interest rates, you may be able to save a significant amount in interest charges over the life of your loan with a shorter repayment term. Use free resources like 123 Refinance to find rates online

-- Posted by jamesleez on Mon, Jan 9, 2012, at 4:43 AM

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