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Loan Process

The SRF Program as administered by the Bond Bank provides conventional and green infrastructure loans related to drinking and wastewater infrastructure as well as natural resource conservation projects. The program is funded through the EPA alongside a matching contribution from the State of Vermont.

Loan terms extend up to 30 years for clean water loans and up to 40 years for drinking water loans with rates ranging from 0 to 2 percent for each type of loan. Many loans are also eligible for partial forgiveness depending on the characteristics of the system and surrounding community seeking financing.

VBB Approved Legal Counsels

Approved Legal Counsels

Local bond counsel serves a critical role in confirming the legality of our borrower’s debt issuances. Early engagement of local counsel will ensure that they will be able to provide a preliminary legal opinion alongside a loan application to the Bond Bank.


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Applications for financing are managed by the Vermont Department of Environmental Conservation (“DEC”) who reviews for programmatic compliance before sending to the Bond Bank for financial underwriting.

The first requirement for obtaining funding is to make an application for your project to be on the annual Project Priority List and make sure that your project is included in the annual Intended Use Plan for the program.

Visit DEC’s related financing program.