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Drinking Water State Revolving Loan FundThis program provides funds to repair or improve existing privately-owned drinking water systems.
Eligibility
- Privately-owned community water systems;
- Privately-owned nonprofit, noncommunity public water systems;
- Borrowers must be reviewed and recommended by the Agency of Natural Resources.
Use of Proceeds
- Obtain requisite permits, design, plan, construct, repair, or improve an existing eligible water system to comply with federal and state standards.
Loan Rates and Terms
- Term of up to 20 years - up to 30 years for nonprofit community systems serving low-income residents;
- Repayment deferred for one year from completion of project;
- Administrative fees in lieu of interest rates are set for each project based on the average household income of the water system users, and range from 3% to -3%.
Fees
Application Process
- All loans are approved by VEDA and the Agency of Natural Resources;
- Applicants are advised to discuss their proposed project with the Agency of Natural Resources and VEDA Staff prior to submitting an application;
- Applications may be obtained from either the Agency of Natural Resources or VEDA.
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