NIA Launches An Ambitious EC$10,000,000 Loan Project For Civil Servants
By Pauline Waruguru
Nevis Reporter-SKNVibes.com
Charlestown Nevis: -- Loans for Civil Servants and Non-Established Workers who have been on staff of the Nevis Island Administration (NIA) can now be accessed following the launch of the Nevis Civil Servants Mortgage Loan Programme today at a ceremony held at the Nevis Co-operative Credit Union conference room.
Civil Servants can apply for loans amounting to EC $ 275,000 while Non-Established Workers can access loans amounting to EC$100,000.00 at an interest rate of only eight per cent. The successful loan applicants can utilise the loans for new construction, purchase of a house, repair, alteration, renovation or improvement of a house as well as refinancing of an existing mortgage.
According to the Minister for Lands, Hon.Robelto Hector, who officially launched the ambitious Nevis Civil Servants Mortgage Loan Programme, the programme will enable Civil Servants to fulfil their dream of owning a home. The Social Security Board has agreed to finance the project in the amount of Ten Million Eastern Caribbean Dollars ( EC$10,000,000.00) while the Nevis Co-operative Credit Union will administer the loan.
“NIA is true to its promise of assisting civil servants,” Hon. Hector also added that the loan programme gave civil servants a “historic” opportunity to own homes. He said soon after today’s official launch, those who have already applied could begin the process of accessing the loans. Already 16 civil servants have applied.
Hon. Hector told potential applicants to take advantage of the opportunity being offered, as access to the loans required no collateral. The government will offer the security, he said.
Speaking during the official launch, Sydney Newton, General Manager, Nevis Co-operative Union described the launch as a an “eagerly waited” moment and “an exciting day” for Civil Servants. “The EC10,000,000.00 will be well executed.” Newton said normal credit assessment will be carried out but no collateral will be required.
Hon. Hector encouraged Civil Servants to grasp the opportunity and explained that a lot of bureaucracy will be removed to allow smooth access of the loans.
Ms Sephlin Lawrence, the Executive Director of Social Security,said that the board was ready to disburse the money. Every year Social Security will disburse EC$5 million. Out of the EC $10 million, a total of EC$2.5 has been allocated for mortgages’ refinancing to Civil Servants and one million has been set-aside for non-established workers.
Applications forms are available at the following offices: Ministry of Finance and Human Resources Department, Nevis Island Administration, Social Security Office, Nevis, Nevis Co-operative Credit Union, Nevis Housing and Land Development Corporation, Belle Vue.
Completed application forms should be sent to the Nevis Committee Secretariat housed at the Nevis Co-operative Credit Union. Qualified applicants will be referred to the Nevis Credit Union for a credit assessment interview.
Chris Martin heads the Nevis Civil Servants Mortgage Loan Programme and members of the committee are Celesteen Brown, Marlene Jeffers, Georgette Hanley and Vernel Powell.
Photos: Official launch of the Nevis Civil Servants Mortgage Loan Programme held at the Nevis Co-operative Credit Union conference room
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