KOROR (USDA) — Families grow over time. However, in most cases their homes do not, due to financial limitations.
This was the case for the Bandarii family.
During the last 12 years, the Bandarii family has grown to a family of five.
And, while the joys of a large family can be enlivening, their two-bedroom home had understandably become severely overcrowded.
Unfortunately, their limited finances did not allow for needed improvements to give them all some much-needed breathing space and to turn their home into a comfortable and safe place to live.
Their living conditions were affecting their quality of life and becoming a concern for the family.
“I felt like we were living on top of each other and was very unhappy in the way we were living,” Keity Bandarii said.
All of this changed when Bandarii applied for a 504 Home Renovation Loan at the Palau office of the U.S. Department of Agriculuure’s Rural Development.
To finance needed home repairs, a loan was approved for the Bandarii family in the amount of $7,400, at the very low and affordable annual interest rate of 1 percent.
With the assistance of USDA Rural Development, the Bandarii family was able to remodel their kitchen, install new doors and windows, replace the leaky roof and, much to their relief and excitement, add a third bedroom.
“I am so pleased with USDA Rural Development and very happy that my home is a safer place for my children. I no longer worry about heavy rain or flooding like before the new roof was installed,” Bandarii said.
USDA Rural Development’s mission is to increase economic opportunity and improve the quality of life in rural communities.
As a venture capital entity, Rural Development has invested over $72 billion since the beginning of the Bush administration.
These investments provide equity and technical assistance to finance and foster growth in homeownership, business development, and critical community and technology infrastructure.
Over 1.2 million jobs have been created or saved through these investments.
Further information on rural programs is available at a local USDA Rural Development Office or by visiting USDA’s Web site at http://www.rurdev.usda.gov.
USDA Rural Development is an Equal Opportunity Lender, Provider, and Employer. Complaints of discrimination should be sent to: USDA, Director, Office of Civil Rights, Washington, D.C. 20250.