FRWA Long Term Financing

The Florida Rural Water Association (FRWA), through the Florida Rural Utility   Financing  Commission, is partnering with the Florida Department of Environmental Protection (FDEP) State Revolving Funds to offer a program to finance the  construction of your project on the  CWSRF contingency list.  This program will provide two financing options for you to choose from to maximize the benefits and lower the cost to your project. Such options include a loan from proceeds of a bond issue and a loan from proceeds of a bank issuance, so you can get started on your needed project as soon as possible.  Please find enclosed information on both  programs.

We know you want to move forward on your projects to take advantage of the low market interest rates, capture the cost savings of many contractors bidding on wastewater construction projects, and make sure you lock in contracts before construction costs and materials increase in price.

Either program is available to you.  If you need help deciding on the best route for your project, please contact any of us listed on the program materials or you may have a financial advisor who can provide information or advice.

The following interest rates were market rates on July 2, 2008: between 4.20% and 4.40% on bank loans below 10 million dollars, between 4.70% and 4.90% on bank loans above 10 million dollars; and between 4.40% and 4.60% in the bond program for any sized project.  These interest rates assume a 20 year fixed rate financing and are subject to market movements until the financing is closed, but are all inclusive of closing cost.  The rates are for illustrative purposes only.  Such rates will be determined prior to closing of the loan and may differ from what is indicated above.

The FRWA has developed these programs, with support from FDEP to reduce delays in project construction. FRWA does not profit in any way from either program and our only interest is in helping the Florida water industry.

Please don’t hesitate to call us if we can help answer questions or to get started on securing financing for your project.

For more information, click on one of the links below.

To fill out an application, please click here.  When complete, please fax to FRWA at 850.893.4581

Funding