PROGRAM DESCRIPTION: This program is for loans and grants to finance low rent housing for domestic farm laborers.
TYPE OF ASSISTANCE: Funds may be used to build, buy, improve or repair farm labor housing and to provide related facilities.
ELIGIBILITY REQUIREMENTS: A loan can be made to an individual farm owner, association of farmers, family farm corporations, Indian tribes, State or political subdivisions, broad-based public or private non-profit organization of farm workers.
FUND AVAILABILITY AND MAXIMUM AMOUNTS: Funding is held at the National level. The State Office must request an allocation for each project.
INTEREST RATE: 1% on unpaid principal.
TERMS AND COLLATERAL: Each loan will be adequately secured to protect the Government's interest.
FEES: None.
CREDIT REQUIREMENTS: Loans can be made up to the value of the security as determined by an appraisal. The applicant would contribute any difference between cost and security value.
CONTACT: Applications are made at the Rural Development State Office.
For assistance, please contact the Area Office which serves the area you are interested in, or William Hobbs, Program Director. Mr. Hobbs can be reached at 919-873-2063 or email:bill.hobbs@nc.usda.gov.
Please send any comments or suggestions to:
Rdwebmaster@usda.gov