Due to increased demand as well as reductions in the WPCRF Capitalization Grant due to CDS funding WPCRF loans are extremely competitive and may be subject to prioritization.
In 2023, the Water Pollution Control Revolving Fund (“WPCRF”) received $7,200,000 in Base capitalization grant funds and 18,341,400 in BIL capitalization grant funds from the Environmental Protection Agency.
In order to receive a loan through the WPCRF, you must first make sure that your project is on the 2022-2023 WPCRF Eligibility List. If your project isn’t on the list, your community can apply to get on the list by filling out the Eligibility Survey below (if it is currently active/open).
For 2024, the Authority Board of Directors is offering loans of less than $3,000,000 as direct loans, at an interest rate of 3.25% for 20 years and 3.50% for up to 30 years, or less if your community qualifies as disadvantaged. Loans may also receive a reduced interest rate if the project qualifies as “Green” and if the “Green” requirement has not been met by the Authority.
Loans of over $3,000,000 are leveraged loans, which will require the issuance of municipal bonds and will have subsidized interest rates at 80% of the market rates. There is currently a $18 million dollar cap on funding through the WPCRF program.