Loan for Self-Help will fund water well installations in Valley
Self-Help Enterprises has obtained a low-interest $1 million loan from the Local Initiatives Support Corporation to help pay for well drilling in the San Joaquin Valley.
Self-Help Enterprises is maximizing state and federal grants and combining the low-interest loan to help pay to drill new wells for the hundreds on the agency’s waiting list.
By combining grants and loans, the cost to the customers is reduced.
Interest on the $1 million loan is 2 percent, said Tom Collishaw, president and chief executive officer for Visalia-based Self-Help.
In the past year, SHE has placed 861 temporary storage tanks and pumps into homes that are receiving regular water deliveries; replaced 55 domestic wells; coordinated bottled water deliveries to 987 families; and extended new water lines to 105 homes.
The funding from Local Initiatives Support Corporation will fund construction of an additional 30 wells.
Self-Help is a nonprofit community development corporation covering seven Valley counties from Kern to Stanislaus.
This story was originally published January 5, 2016 at 6:36 PM with the headline "Loan for Self-Help will fund water well installations in Valley."