Federal program to finance storm shelters for low income residents

(Oklahoma City-AP) -- The US Department of Agriculture is announcing a low-interest loan program to help low-income residents buy storm shelters.<br><br>The federal loans will provide 100% financing for

Monday, May 3rd 2004, 12:00 am

By: News On 6

(Oklahoma City-AP) -- The US Department of Agriculture is announcing a low-interest loan program to help low-income residents buy storm shelters.

The federal loans will provide 100% financing for shelters at an interest rate of one percent for a 20-year-loan. The USDA financed shelters must meet Federal Emergency Management Agency standards.

Those eligible for the loans are low income residents who earn less than half the average income in their county. Additional information is available from USDA Rural Development at 405-742-1070.