GROW South Dakota is Recognized by Citi Foundation for their Commitment to Homeownership
Tuesday, March 10, 2015
The Citi Foundation has announced a $50,000 grant to GROW South Dakota to support the Section 502 Direct Loan Packaging Program. “We value the important work GROW South Dakota is doing to increase homeownership in rural areas, persistent poverty counties, and reservation areas and are pleased to be able to support them in these efforts,” stated Ruth Christopherson, Senior Vice President of Citi Community Development.
GROW South Dakota is dedicated to helping low-income residents achieve long-term home ownership goals through the USDA Rural Development 502 Direct Loan Program which is paired with other GROW SD housing loan products and services. “Since 2010, GROW SD has been one of five intermediary organizations in a national pilot program for this Rural Development program,” says Wade Veflin, GROW South Dakota Housing Loan Officer. GROW SD provides pre-qualification services, education, and access to low-interest capital to very-low and low-income individuals so they may become successful homeowners. GROW SD has closed loans for 41 qualified residents for the 502 Direct Loan Program. Currently, GROW SD packages 502 Direct Loans in all of Eastern South Dakota.
For more information about GROW South Dakota’s housing programs and services, please call (605) 698-7654.
Pictured are Shelly Pedersen; Assistant Manager Coteau Valley Credit Union and Wade Veflin; GROW South Dakota Housing Loan Officer, pictured with the Ellingson Family (center)
The Citi Foundation works to promote economic progress and improve the lives of people in low-income communities around the world. We invest in efforts that increase financial inclusion, catalyze job opportunities for youth, and reimagine approaches to building economically vibrant cities. The Citi Foundation's "More than Philanthropy" approach leverages the enormous expertise of Citi and its people to fulfill our mission and drive thought leadership and innovation. For more information, visit www.citifoundation.com.
Category: GROW SD