Bank, Main Street Announce New Loan Program

Staff Report

WATER VALLEY – Renasant Bank has pledged $200,000 to establish a low-interest loan program for the Water Valley Main Street Association.  The goal of the program is to help property owners preserve Water Valley’s historic buildings, renovate newer buildings to fit in with the historic character of Water Valley’s downtown area, and fill in vacant Main Street lots with buildings that are consistent with this theme.

“While many of these programs cover only the building exteriors, the Water Valley program is available for exterior, interior or even structural renovations.

This program can even be used for new construction on vacant Main Street lots,” said Bill Taylor, President of Renasant Bank in Water Valley.

To qualify for the low interest rate, the first step is approval of the project by the Main Street Association.  According to Mickey Howley, Chairman of the Main Street Association’s Design Committee, “There are no pre-approved paint colors or other specific guidelines. As long as that the completed project will help preserve the historic look and feel of downtown Water Valley  it will be approved.”

Jessie Gurner, Executive Director of the Main Street Association, added “The Water Valley Main Street Association is proud to offer this program to our local businesses and we thank Renasant Bank for its commitment to Water Valley. Together, we can preserve what so many people love about downtown and make it an even more profitable place to do business.”