The NJ Water Bank Financing Program is a partnership between the NJ Water Bank (NJWB), 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.
Black - Application/Document Submission
Blue - Approval/Certification
Green - Loan Closing
Submission | Deadline | |
---|---|---|
(1) | Project Information | Not Applicable |
(2) | Short-Term Loan FAF | Not Applicable |
Certification 1 | ||
Short-Term Loan Closing* | ||
(3) | Letter of Intent (Environmental Planning Document) | Not Applicable |
(4) | Construction Application | Not Applicable |
(5) | Engineering Plans and Specifications | Not Applicable |
Certification 2** |
*Environmental Planning Funding
**Construction Funding
The I-Bank charges interest on funds drawn on short-term loans. The effective interest rate is set monthly to reflect costs associated with the I-Bank’s borrowed funds blended with 0% interest funds appropriated to the I-Bank by the State for the Water Bank’s Construction Financing Program. The effective monthly interest rate can be found on the I-Bank’s website Here. Long-term interest rates may vary, but for 2024, most borrowers will receive an effective interest rate made equal to 50% of the I-Bank's market rate.
3131 Princeton Pike, Building 4 Suite 216
Lawrenceville NJ, 08648 T. 609 219 8600