RCAP Financial Services

As part of its support for community development programs and supportive services for individuals and their families.

The RCAP Revolving Loan Fund (RLF) provides short-term financing to eligible applicants for pre-development costs associated with new water and wastewater projects. RLF financing can also be used for short-term costs incurred for replacement equipment, small-scale extension of services, or other small capital projects for existing water or wastewater systems, costs that are not a part of regular operations and maintenance. We also will loan short term money to fund small capital improvement projects.

Priority will be given to RLF requests that seek to:

To be eligible to receive RLF loans, projects must serve areas not located within the boundaries of a municipality with a population of 10,000 or more people. Eligible applicants may include:

RCAP Solutions offers other pre-development loans, with varying interest rates and loan terms in the three to five-year range. Please contact us for more information.

Home Repair Loan Fund for Individual Homeowners*

This loan program provides funds to qualified lower-income homeowners who are otherwise unable to obtain conventional financing, so that they can make essential, non-cosmetic repairs to homes in which they live. Funds must be used to repair conditions that jeopardize the health and safety of the occupants.

Loans are made for a minimum of $1,000 up to a maximum of $30,000.

The Home Modification Loan Program provides financing to disabled, cognitive, developmental, environmental sensitivity and neurological disabled persons and their families. Borrowers must reside in the home being modified. Funds are provided to:

•  .  Make access and egress improvements •  . Enable individuals to remain independent •  Make structural improvements affecting the safety of individuals and caregivers, such as: Removal of carpeting   Air filtration systems   Home Security Features, such as: Specialized locks Alarms for window and doors Motion detection lighting   Kitchen and Bathroom safety features, such as: Locked appliances and cabinet space Additional water drains Anti-scalding devices     Other safety features, such as: Bolting furniture to the floor Plexiglas windows and protective coverings for outlets and light fixtures

Funding is provided through a state-funded loan program of the Massachusetts Rehabilitation Commission in collaboration with the Community Economic Development Assistance Corporation. RCAP Solutions is the direct administrator of this program for Worcester County in central Massachusetts. You may obtain more information on this program by clicking here or by calling RCAP Solutions at the number below.

(Please Note: RCAP Solutions administers this program for Central Massachusetts residents only.)

For information about the Revolving Loan Fund, call Donna Warshaw at 978-630-6635.

For information about the Home Repair and Home Modification loans, call Renee Perdicaro at 978-630-6725.

These Programs help provide credit, capital, and financial services to underserved populations and communities in the United States.

Through our subsidiary RCAP Solutions Financial Services, RCAP Solutions offers loans to qualified individuals, non-profit organizations and communities.  Click here to see our offerings.

The Opportunity Finance Network is a key partner – expanding our capacities to provide financial services by helping keep us informed and reaching out to markets in need of our assistance.

*Please Note: The information about our loan programs should not be construed as an offer or a promise of loan financing, or as a statement that funds will be available when you apply. The funds are subject to availability from state and federal government agencies. Restrictions other than those listed may apply. All loans are subject to eligibility guidelines, an application process, an underwriting process and loan approval; and must comply with the terms and conditions described in program information, which is available by contacting the RCAP Solutions staff members identified above

RCAP Solutions Financial Services is supported under a grant by the United States Department of Agriculture Rural Development. Any opinions, findings, and conclusions or recommendations expressed in this material are solely the responsibility of the authors and do not necessarily represent the official views of the Utilities Programs. 

RCAP Solutions is an equal opportunity provider and employer.