Home Repair Revolving Fund Loan Program
The Central Appalachia Empowerment Zone of West Virginia (CAEZ-WV) has allocated funds for the development and implementation of a Home Repair Revolving Loan Fund. The purpose of the fund is to improve housing conditions for residents of the zone.
Loans will be made for projects which improve the health and safety features of area housing. Projects that will be considered should relate to one or more of the following areas:
– Mechanical: electrical, plumbing, heating, and cooling
– Health and Safety: sewage system defects, faulty wiring, leaking roof, carbon monoxide releases, faulty hot water tanks, building and fire safety code violations
– Handicapped Accessibility: ramps, retro-fitting of interiors, lifts
– Wells and Septic System: filtration, aeration
– Weatherization: insulation, windows, doors, weather stripping
Repairs must be made on owner occupied property. The minimum loan amount is $250. The maximum loan amount is $10,000. The term of the loan cannot exceed ten (10) years.
Projects that are related to emergency repairs will be considered by the CAEZ Housing Loan Committee on a case-by-case basis. Funds awarded through this program are to be repaid to the CAEZ so that the loan pool can perpetuate itself. No grants will be awarded.
CAEZ successfully implemented a Home Repair Revolving Loan Fund in 1996. “There is a compelling need for us to continue this work,” said Connie Lupardus, CAEZ’s Executive Director. “Our successful experience in implementation of the Home Repair Revolving Loan Fund program has enabled CAEZ to be effective in addressing the growing needs of our citizens.”
The CAEZ Housing Committee approves approximately ten (10) loans each year to zone residents for new roofs, septic systems, wells, and other maintenance projects.
To apply, review and complete the following document:
CAEZ Home Repair Loan Prequalification Package (283 KB pdf document)
Then, for assistance with a CAEZ Home Repair Loan application, contact CAEZ at mbodkins@caez-wv.org or 304-410-5070.
Equal Housing Opportunity