SERCAP's Certified CDFI Loan Fund Assists Low-Income Man Living with a Disability in Pittsylvania County, Virginia!

Friday, 21 January 2022 SERCAP News

SERCAP - Web Image - for Individual Household Well Loans

Currently, SERCAP’s Certified CDFI (Community Development Financial Institution) Loan Fund is assisting a low-income man, who is living with a disability, in Pittsylvania County, VA, to get a new individual household well installed at his home. Recently, he began experiencing several issues with his old well, including having very low water pressure or no water pressure at all. The problem persisted, even after he had the water-pump replaced. However, due to his low-income status he is unable to afford the cost of having a new well drilled on his own, without causing serious financial hardship.

Fortunately, SERCAP’s certified CDFI Loan Fund approved him for an Individual Household Well Loan in the amount of $11,000.00, and the agency awarded him a $1,000.00 grant through the Essential & Critical Needs program to help cover the full cost of the project. The construction has been awarded to Southside Well Drilling, Inc., who will begin the drilling work in the very near future. Once the project is complete, SERCAP’s Loan Fund will set-up an affordable monthly payment with the client, further reducing the potential for financial hardship, and the project will fully restore reliable access to clean, safe drinking water at the client’s home.

Without SERCAP’s Certified CDFI Community Development Loan Fund Program, and other similar services, many low-income households and communities would be forced to go without such necessities as
reliable access to environmentally sound wastewater disposal solutions, 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 United States 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 Certified CDFI Community Development 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, including the Essential & Critical Needs Program, are funded and/or leveraged by an annual Budget Appropriation granted to SERCAP by the Virginia General Assembly, and administered by the Virginia Department of Housing and Community Development (DHCD).