Residential Loan Fund for Fire Safety and Resilience What can it do for you?

Beginning in July 2019, this new loan program was added to the Revolving Loan Fund operated by the Illinois Valley Community Development Organization (IVCanDO) specifically for fire safety protection of residential properties.

What can it do for you?

Are you are a property owner in Josephine County who is concerned about wildland fires or fire protection for homes? Clearing for defensible space around buildings; thinning of hazardous fuels, brush, and ladder fire vegetation on your property; removal of dead, dying, and hazard trees; water systems for firefighting; and ignition resistant metal roofing are all projects that can improve residential safety from fire. This loan program can help with affordable loans to get that work done. Maximum loan amount for these purposes will be limited to $5,000, but can be renewed and successful borrowers can reapply for future project needs.

What are the loan terms?

Maximum loan amount is $5,000 and the minimum amount is $500. Interest rate is fixed 5.8%.
Maximum term for repayment is 36 months. There is no penalty for early repayment.
Fees for loans are $100 plus 1% of the loan amount. For example, fees for a $2,000 loan would equal $120. For the total loan of $2,120 for 24 month term, monthly payments would equal $64.30. If repaid on time over a 24 month term, total interest would equal $183.87. All loans must have sufficient collateral to secure the loan amount and the Loan Fund Advisor must review and approve the items to be used for collateral and their values.

How long will it take applications to be approved?

For homeowners meeting the basic application requirements, a loan can be approved in two – four weeks.
The first step is to meet with the Loan Fund Advisor to complete the two page Application and review the values of items to be used for collateral. When the Application is ready, the second step is to meet with the Loan Board for approval. Homeowners are notified of decision in 24 hours.

When and how does the work get done?

A site assessment and meeting with the homeowner is scheduled with Oregon Dept. of Forestry, IV Fire District, or an approved contractor specialist. At that time, a prescription and vegetation treatment plan for
fire fuels is discussed, scheduled, and agreed upon. That treatment plan will include how vegetation is to be
cut, how it is piled, and whether it is safely burned at a later date, chipped, or removed. The treatment plan
will become part of the approved Loan Contract.
Once the work is done, inspected, and approved, payment is made directly to the contractor from the
Loan Fund. All ground vegetation and specialist tree work is done by approved contractor crews.
Projects involving metal roofing or other construction for structural fire protection will be determined on
a case by case basis.

To make an appointment or contact the Loan Fund Advisor at IVCanDO
Call: 541-592-4440 or 541-956-7400
Email: info@ivcdo.org