Historical June 1994 article. Dates, prices, services and contacts describe the source period; current availability has not been established.
The “Neighborhood Revolving Loan Program” is available to neighborhood property owners to make repairs to their homes and garages. Up to $ 1,000 at a very low interest rate may be borrowed through a streamlined loan application process, with all repayments going back to the revolving fund, to be used to benefit others in the neighborhood in the future. Terms are flexible, and the Loan Committee will regard each application in confidence and award loans on a first-come, first-served basis.
For an application or more information, call Kim Koenig, 862-5122. WHAT IMPROVEMENTS ARE ELIGIBLE? • Code violations • Guttering. • Collapsed sewer lines • Handicapped-accessibility (where city doesn’t pay) • Painting • Concrete • Porch repairs • Doors and windows • Restoration of architectural • Fences features • Garage demolition or repair • Tuckpointing THE TERMS OF THE LOAN ARE: • 3% interest rate–if loan is repaid in 12 months • 6% interest rate–if you wish to take 24 months to repay loan • Maximum loan $1,000; minimum loan $200 • Loan applications will be reviewed and approved by a Loan Committee of the Skinker-DeBaliviere Community Council.
All decisions will be final and at the sole discretion of the Council. Confidentiality of the applicant will be maintained at all times. • First priority will be given applicants demonstrating financial need. • Loans will be secured by a promissory note. • Payments will be arranged through a special account to be set up at Central West End Savings Bank. HOW DO I APPLY FOR A LOAN? • Fill out an application form–available at SDCC office, 6008 Kingsbury or call 862-5122. • Get at least two bids from licensed contractors or prepare a list of materials. • A picture of your house will be helpful in evaluating the work needed. • Bring proof of ownership and paid real estate tax receipt. • Most recent pay stubs or letter from employer, or social security award letter, or proof of pension or other income–to show ability to repay the loan.
Originally published in The Times of Skinker-DeBaliviere, June 1994.
Read this article in the original newspaper issue.
Original source: SD_Times1994_06.pdf, printed page(s) 3; PDF page(s) 3.
