The Iowa Clean Water State Revolving Fund (CWSRF) provides low-interest loans and financial assistance to eligible entities for the planning, design, and construction of a variety of water quality improvement projects. Since 1989, Iowa’s Clean Water SRF program has provided more than $3.3 billion to communities to finance water infrastructure projects to protect or improve our state’s rivers, streams, lakes, and other water resources for future generations. 

The CWSRF program leverages federal funding to finance a wide range of eligible projects, including the improvement or expansion of wastewater treatment facilities, sewer system improvements, and the implementation of green infrastructure projects. Projects funded by the program must meet certain criteria, such as improving water quality, protecting public health and the environment, and ensuring compliance with federal and state regulations.  

Eligible Applicants 
Publicly owned treatment works (POTW) are eligible for the CWSRF program and may include:
  • Municipalities
  • Counties 
  • Sanitary districts 
  • Other governmental entities empowered to provide sewage collection and treatment services 
Eligible Projects
In general, the CWSRF program can finance the following types of projects:
  • Wastewater treatment plants – construction, expansion, upgrades, and rehabilitation 
  • Sewer system rehab and replacement 
  • Interceptors, collectors, and lift stations 
  • Infiltration/inflow correction  
  • Combined sewer overflow correction 
  • Nonpoint source projects 
  • Stormwater projects that have a water quality benefit 
Loan Terms  
  • Below-market interest rates 
  • No debt service reserve requirements 
  • Low fees 
  • Low debt service coverage requirement 
  • No underwriter or trustee  
  • Funding is always available   
  • No maximum loan amount  
  • No “affordability” restrictions or population limits 
Steps to Financing a Project with SRF 
  1. Pre-Application
    A Planning and Design Loan can be used to identify a project's scope and develop a facility plan. Contact the DNR SRF Coordinator to schedule a project initation meeting with the DNR project managers.   
  2. Initial Application
    Projects must be on an approved IUP to be eligible for SRF funding. The Intended Use Plan (IUP) Application must be submitted along with a facility plan for the project to be added to the project priority list of the Clean Water SRF IUP. The IUP application is not an application for a loan.

  3. Agency Technical and Environmental Reviews
  4. Project Bidding
  5. SRF Construction Loan Application
    After the wastewater, stormwater, or drinking water project has been designed and the project is ready for construction financing, an SRF Construction Loan application is submitted by the applicant.  
  6. Loan Disbursement and Closeout