Oregon Offers $ 2 Million In Low Interest Loans To Fix Failing Septic Tanks
Oregon offers $ 2 million in low-interest loans to homeowners and small businesses to repair or replace failing septic systems.
Defective septic systems can cause wastewater to rise to the ground or flow into waterways, creating risks to public health and harming natural resources.
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The Oregon Legislature created the loan program in 2016, but funding ran out in June 2020. The Legislature approved the new funding earlier this year.
“By supporting those who struggle to fix failing septic systems, we can not only prevent damage to homes and property, but also improve public health outcomes for all Oregon residents,” the representative said. ‘Oregon, Ken Helm, D-Beaverton, in press release.
The Oregon Department of Environmental Quality partnered with nonprofit lender Craft3 to administer the loans. She has just reopened loan applications.
DEQ estimates that of the 450,000 septic systems used in Oregon, 10-20% fail each year.
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The loans cover all eligible costs for licensing, design and installation, and also provide for ongoing maintenance when needed. The loans have variable low rates depending on the borrowers’ income and are available to borrowers who may not have perfect credit.
They are available for homeowners and small businesses that use septic systems, such as restaurants, convenience stores, and small manufactured homes or RV parks.
Before the program was suspended, it provided more than $ 3.6 million in loans to 187 Oregon residents and small businesses to upgrade or install septic systems.
Loan recipients were in 92 cities and 28 of Oregon’s 36 counties.
To learn more about the program or to apply, visit Craft3.org/CleanWaterOre.
Tracy Loew is a reporter for the Statesman Journal. She can be reached at [email protected], 503-399-6779 or on Twitter at @Tracy_Loew. Support local journalism by subscribing to the Statesman Journal.
This article originally appeared in the Salem Statesman Journal: Oregon Offers $ 2 Million In Loans To Fix Failing Septic Tanks