SERCAP's Certified CDFI Loan Fund Program Assists Elderly Couple in Prince Edward County, Virginia!
Recently, SERCAP’s Certified CDFI (Community Development Financial Institution) Loan Fund assisted a Low-to-Moderate Income (LMI) elderly couple in Prince Edward County, VA, with having a new individual household well drilled. The clients’ old well dried-up, leaving them completely without access to water at their home. However, due to the clients’ LMI status, they were unable to afford the whole cost of having a new well drilled on their 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 (85.29%) of drilling a new well. SERCAP’s Loan Fund provided an Individual Household Well Loan of $5,800.00, towards the $6,800.00 cost of drilling the new well. Now these clients once again have reliable access to clean, safe potable water in their 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!
*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).