Description
The Revolving Fund Program provides grants to qualified private, non-profit entities to capitalize revolving funds for financing water and wastewater projects. The program aims to help communities expand and improve water or wastewater systems using short-term loans. The grants can be used for pre-development costs, short-term costs for replacement equipment, and other small capital projects.
• The program is authorized by Section 306(a)(2)(B) of the Consolidated Farm and Rural Development Act.
• The funding amount available for Fiscal Year 2023 will be determined when the budget is approved by Congress.
• Historically, funding for this program has been $1 million annually.
• Applicants must submit a complete application, including required forms, a project proposal, a work plan, a budget, and other supporting information.
• Applications will be evaluated based on criteria such as expertise and experience, work plan, applicant contribution, and administrative expenses.