6 May 2009

Home renovation loans available to some in American Samoa

10:50 am on 6 May 2009

Just over 200 local residents, mainly elderly people, showed up early yesterday morning to stand in line for the first day the Development Bank of American Samoa started accepting applications for home renovation loans "for the needy" in the territory.

The U.S. Department of Housing and Urban Development has provided 360,000 US dollars to American Samoa under the federal the Decent Affordable Housing Program for the Most Needy.

Applications are been accepted up to May the 6th and the Development Bank expects to receive at least 400 applicants.

According to the bank, the total cost of each rehabilitation project may not exceed 20,000 US dollars and the projects will be funded through a combination of grants and loans.