The Revolving Fund Program (RFP) has been established to assist communities with water or wastewater systems.
Qualified private, non-profit organizations, who are selected for funding, will receive RFP grant funds to establish a lending program for eligible entities.
for the revolving loan fund will be the same entities eligible to obtain a loan, loan guarantee, or grant from the Water and Waste Disposal loan and grant programs administered by RUS, under 7 U.S.C.1926(a)(1) and (2).
As grant recipients, the non-profit organizations will set up a revolving loan fund to provide loans to finance predevelopment costs of water or wastewater projects, or short-term small capital projects not part of the regular operation and maintenance of current water and wastewater systems.
The amount of financing to an eligible entity shall not exceed $100,00 0. 00 and shall be repaid in a term not to exceed 10 years.
The rate shall be determined in the approved grant work plan.