If you aren’t familiar with EPA’s Water Infrastructure Finance and Innovation Act program, it is a dynamic, low-cost federal credit program that supports critically important water infrastructure projects in communities across the nation.
Unlike previous years, our program has adjusted the application process to select borrowers on an ongoing basis. We find that this extra flexibility helps support prospective borrowers’ planning and project timelines, allows for more diverse and impactful projects in communities. So, if you are interested in a WIFIA loan, then you can submit a letter of interest to EPA at any time.
Basics of WIFIA Financing
EPA’s WIFIA financing is a helpful tool for communities across the country providing billions of dollars in credit assistance and creating local jobs while saving ratepayers and communities money. Over half of all WIFIA-financed projects will protect infrastructure against impacts of climate change. Many other WIFIA-financed projects support key EPA priorities, including lead service line replacement, emerging contaminant mitigation, greenhouse gas reduction and support for economically stressed communities.
Quicker funding decisions help borrowers
We issued our 2022 Notice of Funding Availability in June 2022, with approximately $6.5 billion available for water infrastructure projects. In September 2022, we began accepting letters of interest under our new rolling project selection process. Once we receive letters of interest, prospective borrowers can expect to receive a selection decision within four to six weeks. Our change to a rolling project selection process helps borrowers plan their projects on their own timeline, and accelerate investments in critical local water infrastructure.
WIFIA projects build a sustainable water future
Radhika Fox at Springfield, MA WIFIA Event
Projects selected for WIFIA financing make a real difference in communities of all sizes across the country. WIFIA-financed projects enable the modernization of drinking water and wastewater treatment facilities, elimination of combined sewer overflows, replacement of outdated water supply lines, creation of new water sources, retrofitting of existing dams and more. The WIFIA program offers flexible, customizable terms, including bundling multiple projects under one loan and master credit agreements.
Applying for a WIFIA Project
EPA’s WIFIA program finances water infrastructure projects to a wide variety of borrowers, including local and state government entities, private companies, partnerships, and State Revolving Funds. If you're interested in scheduling a one-on-one meeting with the EPA WIFIA Team to explore this funding opportunity, we can help! We also host monthly online Office Hours sessions where prospective borrowers can chat with WIFIA staff about the process for submitting Letters of Interest and any other questions.
Visit the WIFIA website to learn more about the WIFIA program's eligibility requirements, benefits, application process and portfolio.