WIFIA Solutions for Needing to Move Quickly

I need to move quickly.

Communities often have water infrastructure projects that need to happen as soon as possible and capital improvement plans with multiple projects to complete over the next several years. With all the projects that need to happen, moving quickly is often a top priority. However, navigating various funding programs and their timeframes and requirements can be a challenge and make it difficult to get started on projects.

How Can WIFIA Funding Help? 

The WIFIA program has options to move the funding process along as expeditiously as possible, with shorter loan closing timeframes, options for planning and design loans and project bundling, and quick post-loan closing disbursement processes. These flexibilities help accelerate the funding process and water infrastructure projects:

• Expeditious Loan Closing: The WIFIA program moves at the borrower’s speed and will work to close loans that fit the borrower’s schedule. Historically, the WIFIA program has been able to close loans in as little as 4 months from application submission.
• Planning and Design Loans: It can sometimes be difficult for communities to secure funding for projects that are in the conceptual phase. To address this, the WIFIA program offers planning and design-only loans. These loans can help borrowers move forward with projects at a quicker pace. Several WIFIA borrowers have taken advantage of planning and design-only loans to conduct preliminary analyses and evaluate alternatives for their water infrastructure needs.
• Project Bundling Options: The WIFIA program has a few options for bundling projects, depending on borrower needs and timeframes:
  • Borrowers can bundle several projects into a single loan (pdf) (337.21 KB). Bundling projects streamlines processes and saves borrowers time and money by only closing one loan, instead of separate loans for each individual project. This option can be extremely advantageous for communities looking to complete large, complex projects.
  • The WIFIA program also offers a master agreement (pdf) (418.07 KB), which is an umbrella contract between EPA and a borrower that provides an upfront commitment of loan proceeds and a common set of legal and financial terms under which a borrower can close multiple WIFIA loans over time. Master agreements are helpful for borrowers with several projects that are in different phases, have different schedules, or are in different stages of the environmental review process. By evaluating the credit and negotiating the legal framework upfront, the WIFIA program and the borrower can close each loan under a master agreement faster and for lower cost than multiple loans outside of a master agreement.
• Efficient Post-Closing Reimbursement: After loan closing, borrowers have the option of requesting reimbursement as frequently as once per month. Upon receiving a complete reimbursement request, the WIFIA program disburses funds within 15 days. Additionally, invoices submitted during reimbursement can be “approved to pay” and don’t need to be paid in advance. These benefits get borrowers money when they need it and help progress their projects.

Hear What Our Borrowers Are Saying:

“EPA staff were very helpful from the application phase through implementation and helped save the City time and reduce project costs. The City certainly encourages other utilities to give it a shot.” –  City of Beaverton (2023), Oregon