McCook Economic Development Corporation

USDA Low-interest Home Repair Loans

Debra Suhr, 308-632-2195 X1136

Low-interest HOME REPAIR LOANS OFFERED THROUGH USDA

Scottsbluff, Neb., February 17, 2012-The current economic environment and its impact on the housing market is leading homeowners to repair their homes instead of buying a new one.  If your residence requires home improvements and you’re wondering how to get financing, USDA Rural Development can help with low-interest (1 percent) loans for those repairs.

“Now is a good time for homeowners to evaluate the need for necessary repairs or replacement of items such as a roof, electrical, plumbing, siding, or to improve energy efficiency through replacement windows and insulation.” said Debra Suhr, Area Technician for USDA Rural Development.  “The replacement of a furnace, sanitary disposal system, modernization of a home or making a home accessible for disabled household members may also be eligible under the program.”

The home loan repair program has a maximum loan amount of $20,000 and offers a 1% interest rate for up to 20 years.   Loans of less than $7,500 may not require a mortgage against the property.  The low interest rate and extended terms of the loan make repayment more affordable for households with limited income.  For example, a $10,000 loan at 1% interest for 20 years would have a monthly payment of $46, compared to a conventional loan with an interest rate of 4.75 % for 10 years, with a monthly payment of $105.

The applicant must own and occupy the home and not exceed income guidelines that are established by county and household size.  For example, for many counties in Nebraska, the income limit for a one person household is $19,950: two person, $22,800; three person, $25,650; four person, $28,500 and five person, $30,800.  However, some counties may have higher income limits.  Please contact your USDA Rural Development office for the income limits in your county.  Applicants must also have an acceptable credit history, show repayment ability and be unable to afford a conventional loan.

These low interest loans are available to homeowners in rural areas.  Rural is defined as those communities with a population of 20,000 or less, and includesColumbusandNorfolk.

“Rural Development has adequate loan funds available under the home repair program and I encourage homeowners to contact me,” said Suhr.

For additional information or to obtain an application, contact Debra Suhr at USDA Rural Development, (308)632-2195 x 1136, 818 Ferdinand Plaza, Suite B, Scottsbluff, NE   69361 or debra.suhr@ne.usda.gov  Visit: www.rurdev.usda.gov/ne/.

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February REAP Office Hours in McCook

Dena Beck, central and southwest Nebraska Business Specialist with the Center for Rural Affairs’ Rural Enterprise Assistance Project will hold office hours in McCook on February 24, 2012. Hours will be 10:00 a.m. until 2:45 p.m. McCook Economic Development Corp. (MEDC) will handle the appointments; (308) 345-1200. MEDC office is located at 402 Norris Avenue, Suite 301 (Keystone Business Center – 3rd Floor).

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McCook, the Go To City of Southwest Nebraska!

“McCook, the Go To City of Southwest Nebraska! The slogan is the result of months of work by a group of individuals representing several community organizations including Community Hospital, McCook Chamber of Commerce, City of McCook, Red Willow County Tourism and Visitors Committee, McCook Public Schools, Mid Plains Community College, Heritage Square Committee and McCook Economic Development Corporation. The purpose of coming together was to better market the community of McCook.

Mayor Dennis Berry, responding to a challenge accompanied by a generous personal gift from Senator Ben Nelson during the McCook Quasquicentennial Celebration, provided the leadership to form a task force to develop a community-wide marketing plan. Now organized under an interlocal agreement and known as Vision McCook the group seeks to: 1. Build the McCook brand with an updated logo and tagline 2. Develop a marketing plan with a new website and social media platform to reach a greater audience and 3. Manage the ongoing promotion of the McCook community both locally and abroad.

The core message coming out of this effort is that McCook is the Go To City of Southwest Nebraska. It is the place to go for great career opportunities, to start a business, for a quality lifestyle or for recreation and tourism. The new website at gotomccook.com allows close linking with the different member organizations while allowing them to maintain their own identities. The Tourism and Visitor’s Committee will maintain a calendar of recreational events and add capability to access the site from your mobile phone. Individuals from each of the member organizations have been trained to update information on events, attractions, lodging, hotels, businesses, organizations, volunteer opportunities and churches. Next the Vision McCook Group will engage in promotional activities both locally and to outside audiences that may be interested in the great things life in McCook has to offer.

The members of Vision McCook want you to join them in inviting the world to McCook, the Go To City of Southwest Nebraska!

February NBDC Office Hours in McCook

Nebraska Business Development Center (NBDC) is pleased to announce that North Platte Center Director, Jason Tuller will be having office hours at the Keystone Business Center in McCook, NE.  We are pleased to be working with the McCook Economic Development Corporation in order to provide face to face services for McCook and the surrounding areas.  The hours will be from 9am to 4pm on February 15th. Please contact MEDC at (308) 345-1200 to schedule appointments. read more