DESCRIPTION: Designed to assist income eligible applicants to borrow money from the Todd County Housing and Redevelopment Authority (HRA) to use for payment of security deposits for rental units in Todd County * Maximum loan will be lesser of actual deposit or $550 * Applicant household income must not exceed 80% of the area median income as determined by Housing and Urban Development (HUD). * Applicants must demonstrate the ability to repay loan. The HRA will have sole responsibility and authority to determine eligibility based on third party verification, credit references and rental history. * Annual percentage for these loans will be 2% simple interest. * All loans will be secured by a personal note from the borrower. Loans will be repaid within 12 month period with a minimum monthly payment of $35. * Loans not repaid within 12 months will be submitted to the State of Minnesota Revenue Recapture Program. * All repayments will be deposited into Revolving Loan Fund, to be made available for additional applicants.