How Do I Apply for a Loan?

The first thing to do after deciding to apply for a loan is to contact the Bureau of Community Financial Assistance. Your project will be assigned to a project manager (see project managers) who will advise you on the best financial strategy for your situation and guide you through the process of closing on a loan. If you have not already submitted a Notice of Intent to Apply form, you need to do so prior to submitting an application (you can download this form).

Each loan program has its own application form. The applications require information on the project budget and on the financial status of the applying municipality. Municipal officials, consulting engineers, financial advisors or anyone else with access to the necessary information can fill out the application. The authorized representative of the municipality must sign the application (you can download application forms).

Your project manager will help you complete the application and advise you on the best timing for submitting the application. Be aware that you must have facility plan approval prior to submitting a Clean Water Fund Program application. For the Safe Drinking Water Loan Program, you must have engineering report approval and must submit approvable plans and specifications prior to the April 30 application deadline.

You can also request copies of the above mentioned forms by contacting Jodi Armstrong.

• What's involved in the loan closing process?
• When and how are the funds disbursed?
• When and how is a loan repaid?
• What is a project close-out?