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As reported in the St Croix Lime, “V.I. Delegate to Congress Donna Christensen announced in a press release this week that the Virgin Islands will receive $18,404,580 million in stimulus funding for the Single Family Housing Guaranteed Loan Program under the U.S. Department of Agriculture.

“The program helps qualifying families with moderate incomes to obtain homeownership loans. The program uses its funding to guarantee the loans, said Daryl Cooper, the Single Family Housing Program Director for USDA Rural Development in Florida and the Virgin Islands…

“The idea behind the stimulus was to jumpstart the economy, provide homeownership, provide jobs and provide training opportunities for communities such as ours,” Christensen said in the release. “I hope that everyone from building contractors to our training and employment agencies to our young people who are looking for jobs and careers and affordable homes will begin to make themselves ready for the impact that this and other stimulus funding can have on our community.

“For more information about USDA’s Single Family Housing Guaranteed Loan Program in the territory, call 778-5224.”

Read the loan conditions and benefits at the St Croix Lime blog post.