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Indiana's Wastewater State Revolving Fund (WWSRF) Loan Program provides low-interest-rate financing to construct water quality protection projects. As loans are repaid, money is available to be used again for new financings, thus making the program a "revolving fund."

The WWSRF Loan Program's funds originated from capitalization grants from the U.S. Environmental Protection Agency. Today, the WWSRF Loan still receives such grants, but also uses the revolved repayments along with leveraging in open market to allow more money to be available at a low interest rate for eligible projects.

The WWSRF Program has provided more than $1.84 billion in financing to Indiana communities since the program’s first loan closing in 1991. Since then, the WWSRF Program has provided over $170 million in savings to Indiana communities. In SFY 2008 alone communities saved more than $19 million by taking advantage of the SRF Loan Programs' subsidized interest rates.

Political subdivisions (cities, towns and counties), regional sewer/water districts and conservancy districts are eligible to apply for wastewater SRF project financing. Eligible projects include:

  • Treatment plant improvements and upgrades;
  • Sewer line extensions to existing unsewered properties;
  • Combined sewer overflow corrections; and
  • Infiltration/inflow projects.

Stormwater projects that have no water quality benefits are not eligible for WWSRF financing.

Loan terms:

  • The SRF loan is a fixed rate, 20-year loan. However, up to 35-year loan terms are available for qualifying projects.
  • Interest rates are reset quarterly and are at or below 90% of the average 20-year AAA-rated, general obligation bond Muncipal Market Data. Rates are further discounted based on the  applicant's median household income (gathered from current census data) and local user rates.
  • Interest rates can be further reduced by up to 0.5% if the project has Green Project Reserve components or nonpoint source features. In addition, interest rates may be reduced down to 0.0% for qualifying projects that include lead line replacement.
  • Current Rate Information

Loan Approval Process:

  1. Complete and submit a WW SRF Loan Program Application.
  2. "Disadvantaged Communities Guidance SFY24"
  3. The Authorized Signatory for the proposed project loan will be contacted by the WWSRF Loan Program Administrator to schedule a Project Planning Meeting, which can take place either in our offices or in a location chosen by the applicant. During this meeting, the next stages and required documentation will be explained in detail to the applicant and their chosen engineering consultant who will be creating the Preliminary Engineering Report (PER) for submittal.
  4. When the PER is received by SRF, the WWSRF Loan Program Administrator will score and rank your project on our Project Priority List. The PER will undergo a content review to ensure that all required items are present. A letter will be sent to the applicant indicating whether the PER is complete or if it is missing required items. Click the links to view PER Guidance and tips on the Environmental Chapter content.
  5. When the PER is deemed "complete," the PER will undergo a technical and environmental review by WWSRF Loan Program staff. Staff will coordinate with other applicable agencies regarding any environmental concerns. Before approval, an Environmental Assessment will be posted for a 30-day public comment period or a Categorical Exclusion will be posted for a one-day comment period.
  6. If approved, the SRF Program will issue a "PER Approval Letter" to the applicant indicating that the project has been approved to move forward with the next steps towards closing a loan.
  7. After PER approval, the Applicant will concurrently:
    • submit to the WWSRF Loan Program front-end specifications (satisfying DBE requirements) for bid review;
    • submit to the WWSRF Loan Program the required Due Diligence Packet, including Sewer Charge System; and
    • submit to IDEM plans and specifications along with a construction permit application (if applicable). This will include providing evidence that the Applicant has, or will have by the mutually agreeable date, the required property rights. WWSRF Loan Program staff will perform a consistency review of the submitted PER with the permit application.
  8. After a Construction Permit is obtained from IDEM, the WWSRF Loan Program will issue bid authorization. The Applicant will follow the contract review process for bidding, contract award, construction, wage rates, etc.
  9. The Applicant closes on the SRF loan.
  10. Project construction commences and the loan is drawn down following the disbursement process.  (click here for a Word version of the Disbursement Request Form)
  11. When the project is constructed in operating, the Applicant submits a Certificate of Substantial Completion and As-Built Plans for SRF's records.

WWSRF Loan Program Reports

For more information, contact:
Brett Roberts
Clean Water and Drinking Water Program Manager
100 N. Senate Ave., Rm. 1275
Indianapolis, IN 46204
(317) 232-8623