Clean Water State Revolving Fund Will Offer 0% Interest Loans for Nonpoint Source Projects
Starting in early 2025 the Clean Water State Revolving Fund (SRF) plans to offer 0% interest loans up to $500,000 to public entities for construction of nonpoint source projects.
Funds will be awarded through a competitive application process, and applications will be accepted quarterly, starting in December of 2024.
Nonpoint source projects that meet a minimum score will be eligible for a 0% interest loan (plus 0.25% servicing fee) up to $500,000. For projects greater than $500,000, costs in excess of the amount eligible for 0% funding can be funded at the current SRF interest rate posted at www.IowaSRF.com.
The SRF Intended Use Plan, which is published quarterly on the SRF website, will include information on the 0% interest loan opportunity in May of 2024. A public hearing and comment period will follow, and the Intended Use Plan will be finalized after the Environmental Protection Commission’s anticipated approval in June of 2024.
Further details regarding the application, scoring, project eligibility and loan terms will be communicated via newsletters, listservs and workshops as well as published in future Intended Use Plans.
Questions and comments can be directed to Julie Kelso, SRF Nonpoint Source Program Manager, at Julie.email@example.com.