SERCAP’s Certified CDFI Loan Fund Program Assists Single Female in Lancaster County, VA!
Recently, SERCAP’s Certified CDFI (Community Development Financial Institution) Loan Fund assisted a low-income single woman living in Lancaster County, VA, to have a new well drilled. Her old well collapsed due to an excessive amount of rain, rendering it useless and unable to function. However, due to the client’s low-income status, she was unable to afford the cost of drilling a new well on her own without causing serious financial hardship.
Fortunately, SERCAP was able to step-in and provide financial assistance, through a low-interest (1%), affordable loan, which covered 90% of the cost of drilling the new well. SERCAP’s Loan Fund provided an Individual Household Well Loan in the amount of $9,500.00, and set-up an affordable monthly payment for the client. Now the client once again has a fully functioning well, and reliable access to clean, safe drinking water.
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 Certified CDFI 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).