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This was disclosed to Prime Minister Keith Mitchell by the committee appointed to manage the loan programme under the Housing Authority of Grenada during a meeting held yesterday 9th March 2005. A number of issues related to the Loan scheme were discussed; Prime Minister Mitchell request that the loan application form be simplified and that the criteria for the loan be clearly stipulated. The Prime Minister also emphasized the need for transparency in management of the loan scheme. The committee gave Dr. Mitchell the assurance that a simplified loan application form will be ready for distribution in the near future. Under the Post Ivan Soft Loan Scheme suitably qualified applicants can receive a maximum of EC$40,000 at a 3% interest rate. There will be an optional grace period of 1(one) year and no down payment is required. This loan is meant to assist persons who have some equity but are unable to qualify for other commercial loans.
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