2 minutes reading time (332 words)

SERCAP's Certified CDFI Loan Fund Program Assists Single LMI Female in Bland County, VA!

Recently, SERCAP’s Certified CDFI (Community Development Financial Institution) Loan Fund assisted a Low-to-Moderate Income (LMI) single woman in Bland County, VA, with having a new individual household well drilled. The client was experiencing difficulties with her old well, as it was producing very little water. At its worst, the old well was only producing one (1) pint of water per minute, and would stop pumping water completely every few minutes. However, due to the client’s LMI status, she was unable to afford the whole cost of having a new well drilled on her own.

Fortunately, SERCAP was able to step-in and provide financial assistance, through a low-interest (1%), affordable loan, which covered a significant portion of the cost (79.42%) of drilling a new well. SERCAP’s Loan Fund provided an Individual Household Well Loan of $11,000.00 (the maximum allowed by USDA Rural Development), towards the $13,850.00 cost of drilling the new well. Now this client once again has reliable access to clean, safe potable water in her home.

Without SERCAP’s Loan Fund Program, and other similar services, many low-income individuals and communities would be forced to go without such necessities as reliable access to clean drinking water, indoor plumbing, safe and affordable housing, community development and infrastructure needs, water/wastewater infrastructure solutions, and more. It is important to remember that even in the US in the 21st Century; there are those who do not have reliable access to clean, safe drinking water, environmentally sound septic facilities, and affordable housing. In order to help SERCAP continue to provide assistance to both the individuals and communities in need, please consider making a donation to SERCAP’s Water Life! Fund!

 

Donate Today: https://sercap.networkforgood.com/projects/27202-sercap-s-water-is-life-fund.

 

*Funding for SERCAP’s Loan Fund is primarily made possible by USDA Rural Development, and SERCAP’s own Agency Revolving Loan Fund. Additionally, all of SERCAP’s programs in Virginia, are leveraged by a Budget Appropriation granted to SERCAP by the Virginia General Assembly, and administered by the Virginia Department of Housing and Community Development (DHCD).

Business and Employment Notice: SERCAP's Housing P...
SERCAP's Essential & Critical Needs Program Assist...
 

Comments

No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Guest
Saturday, 04 July 2020

Search Blog

Latest Blogs

02 April 2020
SERCAP News
Recently, SERCAP’s Housing Department assisted an elderly woman and her adult daughter living in Buckingham County, VA, to complete several necessary repairs to their home. The elderly woman has lived in her home for over 20 years, and recently began...
26 March 2020
Stories
SERCAP News
Recently, SERCAP’s Essential & Critical Needs Program assisted a low-income veteran in Tazewell County, VA, with the water-lines at his home, which desperately needed to be repaired. However, due to his low-income status, he was unable to afford...
18 March 2020
Stories
SERCAP News
March 18, 2020 Dear Clients, Friends, and Supporters,I’m hoping this email finds you and your family members and colleagues staying healthy during the COVID-19 pandemic. I am touching base to share information with you- our community and governm...
12 March 2020
SERCAP News
Recently, SERCAP’s Certified CDFI (Community Development Financial Institution) Loan Fund assisted a Veteran in Warren County, VA, to have a new well drilled at his home. The client’s nearly 50-year-old well went dry, leaving him completely without a...
27 February 2020
Stories
SERCAP News
Recently, SERCAP’s Housing Department assisted a low-income family of three (3) in Caroline County, VA, by replacing their failing septic system. The clients have lived in the home for over 30 years, and recently began experiencing difficulty with th...