FREQUENTLY ASKED QUESTIONS

Who can apply for a Resilience Bank Loan?

Eligible Borrowers for the Program are limited to counties and municipalities as well as agencies, instrumentalities, authorities, or corporations of any County or municipality. Applicants must demonstrate an ability to satisfy both the loan repayment obligations and creditworthiness standards as set forth in the I-Bank’s credit policy ("Credit Policy") in effect at the time of loan closing.

What type of projects can be financed through the Resilience Bank?

NJ CHAMP Loans are available for hazard mitigation and resilience Projects identified on a State or local HMP.

What type of project costs are eligible for reimbursement through the financing program?

NJ CHAMP financing is limited to NJ CHAMP eligible Project costs incurred, including construction, engineering, legal counsel, financial advisor, permitting, project management and other costs as allowed pursuant to the STORM Act. NJ CHAMP financing excludes any costs for which other grants have been received.