FINANCIAL OVERVIEW

FINANCING PROGRAM OVERVIEW

The NJ Water Bank Financing Program is a partnership between the NJ Environmental Infrastructure Trust (NJEIT), a division of the NJ Infrastructure Bank, and the NJ Department of Environmental Protection (DEP). The application process has been streamlined and implemented through the H2LOans online application system.

NJ Water Bank eligibility consists of two components: (1) the project Sponsor must (a) be either a local government unit or hold a permit to operate a public water system and (b) satisfy the program’s credit worthiness requirements; and (2) the project must (a) be a clean water or drinking water project as set forth in the Funding Tab above and (b) satisfy all NJ Water Bank program requirements. The above determinations are made upon consideration of relevant application information, submitted by Sponsors through H2LOans, which can be accessed by registered users at www.h2loans.com.

Click here for an interactive Applicant's Guide to obtaining Water Bank Funding for Green Infrastructure Projects.


USING H2LOANS


NJ H2LOANS LOAN APPLICATION PROCESS

Black - Application/Document Submission
Blue - Approval/Certification
Green - Loan Closing

Submission (1) Project Information (2) Short-Term Loan FAF Certification 1 Short-Term Loan Closing* (3) Letter of Intent (Environmental Planning Document) (4) Construction Application (5) Engineering Plans and Specifications Certification 2**
Deadline Not Applicable Not Applicable Not Applicable Not Applicable Not Applicable

*Environmental Planning Funding
**Construction Funding


INTEREST RATES

Short-term loan interest rates are between 0% - 25% of the I-Bank's market rate for terms up to three fiscal years. Long-term loan interest rates vary but the majority are equal to 50% of the market rate. The Water Bank has reduced total interest costs for project sponsors, on average, thirty-six percent (36%) of each borrower's original loan balance.

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NJEIT
NEW JERSEY ENVIRONMENTAL INFRASTRUCTURE TRUST