In preparation for the upcoming hurricane season, the Cabinet took a decision to launch the Home Improvement Loan Programme to assist persons desirous of effecting repairs and other improvements to their homes.
Under this new programme, homeowners can apply for loans of up to $25,000 at the very low interest rate of four per cent (4%).
Under the revolving fund to be managed by the Ministry of Housing, unsecured loans will be given a maximum time of 7 to 10 years to be repaid, and the proceeds will be ploughed back into the programme to assist others.
Persons from both the private and public sectors are eligible to apply to the programme that the government will capitalize to the tune of $5 million.
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