Charlestown, Nevis (Friday, June 20, 2012)– Premier of Nevis, the Hon. Joseph Parry told listeners to his weekly radio program, “In Touch with the Premier” aired everyTuesday, that nationals of Nevis can apply for a residential loan of up to half a million dollars (EC$500,000.00) at a fixed rate of 5 percent, through an institution of the Sugar Industry Diversification Fund (SIDF).

The Premier said that an Exposition will take place on Wednesday, July 25 from 1-6pm at the Occasions Events Center where more information on the program will be provided to potential homeowners.

“This program of the SIDF will give assistance to persons interested in building homes, encourage contractors and bring growth to the home construction sector on Nevis,” said Premier Parry.

The new initiative will be facilitated through FREESH – a ten million (EC$10, 000,000) Fund created by the SIDF for the realization of Economic Empowerment through subsidized housing. The SIDF has also provided an additional sum of one million dollars (EC$1,000,000) under the Equity Assistance Fund (EAF) to provide equity assistance for mortgages that qualify for funding under the FREESH. The EAF would help to remove the barrier to accessing residential mortgages, particularly for those applicants who may have difficulty in making the down payment.

According to the Premier, the terms and conditions of the FREESH have been revised to make funds more attractive and attainable for potential homeowners.

Interested persons are invited to attend next Wednesday’s Exposition, and to meet with contractors, architects, building materials suppliers, and other service providers in the home construction sector.

For more information, and to submit an application visit the SIDF website at: www.Sknsidf.org.