Eligible borrowers for Water Bank financing are the following:
In order to be eligible, applicants must also satisfy the Water Bank's creditworthiness standards, which are discussed in greater detail below. One of the long-term goals of the Water Bank is to increase access to capital markets for applicants that find it difficult or expensive to borrow the project funds on their own, due to lower credit ratings or a lack of familiarity with debt financing. The Water Bank maintains creditworthiness standards, which applicants can satisfy by identifying which of the following scenarios applies to the specific application situation:
Note, full details on the I-Bank's Credit Policy, can be found at: https://www.njib.gov/policiesand-procedures/
TIP: I-BANK STAFF CAN HELP INTERESTED BORROWERS IN THEIR INTERACTIONS WITH PRIVATE RATING AGENCIES OR THE NJ DEPARTMENT OF COMMUNITY AFFAIRS.
Every applicant is required to issue a bond pledging the repayment of Water Bank funds, in accordance with the New Jersey Local Bond Law, N.J.S.A. 40A:2-1 et seq.
The I-Bank provides a Water Infrastructure Savings Enabling (WISE) Act Calculator on its website at https://wise.h2loans.com. This calculator produces a Financing Cost Estimate (FCE) estimating the cost of financing an environmental infrastructure project through the I-Bank and DEP's joint Financing Program and compares this cost with the estimated cost of the Project Sponsor financing the project on its own. Additional information is provided in The WISE Act sub-section below.
Finally, I-Bank staff and their advisors provide detailed guidance on securing financing. For further information regarding the current regulations and policies of the I-Bank call the I-Bank at (609) 219- 8600.
3Public conduit borrowing is when a private party is involved in an environmental infrastructure project, and a local government unit sponsors the project on behalf of the private entity.
4The Clean Water State Revolving Fund (CWSRF) is a self-perpetuating federal loan assistance program for water quality improvement projects administered by DEP.
3131 Princeton Pike, Building 4 Suite 216
Lawrenceville NJ, 08648 T. 609 219 8600