Become a Participating Lender 
  1. The lender must complete the online application and send the Lender Participation Agreement for Iowa Finance Authority (IFA) and return via email
  2. After receiving the signed Lender Participation Agreement, IFA will activate the lender, and the lender will then have access to the online system to enter the application process.
Project Application Process 
  • The borrower works with the County Sanitarian on the initial phases of the project. For more information on project eligibility or approval, contact Iowa Department of Natural Resources-DNR at 515.689.7941. 
Loan Application Process 
  1. The borrower completes the lender’s loan application process. 
  2. When the loan is approved by the lender, the lender completes the OSWAP online application. 
Loan Completion 
  1. After the project has been completed, inspected and certified by the County Sanitarian, the OSWAP approval form, permit, along with the appropriate invoices are emailed to Jane Larson. DNR will approve the project and loan amount online. 
  2. After DNR approves the project, IFA approves the application and the lender receives an email that funds can now be requested. 
  3. The lender may request the funds online. 
  4. Funds are deposited in the financial institution and the borrower receives his/her loan from the lender. 
  1. Approximately a week before the anniversary date of the loan, IFA will send a notice to the lender via email reminding the lender that IFA will withdraw from its deposit account an amount equal to the principal that has been repaid. 
  2. The amount in the deposit account and the amount of the outstanding principal on the loan will be the same.