Peoples Bank & Trust is continuing to “Put People First” with the creation of a new Peoples Assistance Company. Peoples Assistance Company will help very low-income families and seniors secure grants and loans to make much-needed home repairs and improvements that remove health and safety hazards from their homes.
Peoples Assistance Company will be able to help address basic repair needs in the form of grants up to $10,000 and 1% interest loans of up to $40,000 through the USDA 504 Home Repair Program. Qualifications for the Home Repair Program loan and grant programs will be processed through Peoples Assistance Company. Loan applicants must be a homeowner and occupy the home, be unable to obtain affordable credit elsewhere and have a family income within the very-low-income range, by county. Grant qualifications include a minimum age of 62 or families that have the inability to repay a repair loan.
One additional requirement of the USDA Section 504 Home repair Program specifies that qualified participants must live in an eligible rural area If you want to learn more about program eligibility and requirements contact PB&T.
Loans may be used for various types of repairs and improvements including but not limited to heating, cooling, electrical, structural, and other modernizations. Grants must be used to address and remove health and safety issues.
Interested applicants are encouraged to contact one of the qualified consumer bankers to inquire and find out more. Detailed information can be shared regarding available loans and grants accessible via the USDA 504 Home Repair Program. USDA direct loan and grant applications are done through the Peoples Assistance Company.
For more information, on Peoples Assistance Company or how they can learn more about low-interest loans and grants, contact the bank at 888-728-1954 or visit www.bankpbt.com.