Self liquidating loan program
One of the goals of the WDLF is to provide its customers with a flexible, easy to use program.To that end, a WDLF loan officer meets with an applicant several times to assist in guiding the applicant through the loan process.Other security may include a first lien on assessments or other revenue pledged for repayment and personal property financed by the loan.More information For more information and copies of the Water Development Loan Program application forms, contact Salem Opeifa.
Finally, the borrower begins making the agreed loan payments.
Application First, the loan officer conducts a pre-application conference with applicants to review the program and answer any of the applicant´s questions.
The loan officer and applicant meet again to review the completed application forms and ensure they are prepared adequately for submission.
Collateral and security The amount and type of loan security required depends on the borrower and the type of project financed.
A first lien on real estate is required security for all loans.