Providing Single Family Housing Repair Grants & Loans

October 17, 2022

Peoples Bank & Trust is proudly living into their tagline of “We Put People First” with the creation of the new Peoples Assistance Company. Peoples Assistance Company was formed with the specific goal of helping very low-income families and seniors secure grants and loans to make much needed home repairs and improvements that remove health and safety hazards from their homes.

“So many low-income families and senior citizens in our communities have challenges making ends meet, much less making repairs, improvements or desperately needed modernizations that their homes require.” stated John Gardner, President of Peoples Bank & Trust. “Through the USDA 504 Home Repair Program, Peoples Assistance Company is able to help address these basic repair needs in the form of grants up to $10,000 and 1% interest loans of up to $40,000.”

Qualifications for USDA 504 Home Repair Program loan and grant programs, being processed through Peoples Assistance Company are both clearly outlined. Loan applicants must be a home owner and occupy the home, be unable to obtain affordable credit elsewhere and have a family income within the very-low-income range, by county. Grant qualifications include a minimum age of 62 or families with an inability to repay a repair loan.

One additional requirement of the USDA Section 504 Home Repair Program specifies that qualified participants must live in an eligible rural area. Those interested in learning more about program eligibility are encouraged to contact Peoples Bank & Trust for program specifics.

Loans may be used for various types of repairs and improvements including but not limited to heating, cooling, electrical, structural, and other modernizations. Grants must be used to address and remove health and safety issues.

“For an elderly person, frayed and deteriorating carpeting can pose a tripping hazard. That is just one small example of how a grant can be used to meet the requirement of providing a safer environment for seniors.” Gardner continued. “This program provides a much-needed support mechanism, for those who truly need support and assistance.”

Peoples Assistance Company makes it easy for customers and non-customers alike to take pride in their home, families, and communities. By focusing on serving eligible families and seniors by using the strong competencies of our lending services and our knowledge of this program, we can help identify unique solutions that fit applicants’ needs.

“Through the focus and dedication that we are able to provide via Peoples Assistance Company and these low interest loan and grant programs, we hope to help make a big impact on the lives of those in need.” Gardner stated. Interested applicants are encouraged to contact one of our qualified consumer bankers to inquire and find out more. Detailed information can be shared regarding available loan and grants accessible via the USDA 504 Home Repair Program. USDA direct loan and grant application origination and processing is done locally through Peoples Assistance Company.

Peoples Bank & Trust is a locally owned and managed independent community bank with ten offices located in Pana, Taylorville, Altamont, Tower Hill, Charleston, Springfield, Morrisonville, Palmyra, Waverly, and White Hall. Peoples is a full-service bank offering outstanding customer service to consumers, small businesses, and farmers in Central Illinois. People First Bancshares, Inc., with corporate offices in Pana, Illinois, is the holding company for Peoples Bank & Trust.

For more information on Peoples Assistance Company or how they can learn more about low interest loans and grants, contact the bank at 888-728-1954, or visit

For more information on Peoples Bank & Trust contact the bank at 888-728-1954 or visit