Financial Assistance Program Loans

Financial Assistance Program loans are long-term, low-interest revenue bond loans that assist communities with projects related to water and wastewater projects and needs such as engineering or technical planning and design, construction, land purchases for water or wastewater systems or source water protection, dredging water supply reservoirs, water rights acquisitions, or for the refinance of existing debt for these purposes.

Counties, towns and municipalities
Public works authorities
School districts
Districts formed under Title 82 of the State's statutes as follows:
- Water conservancy districts
- Rural water districts
- Rural sewage districts
- Irrigation districts

Any project related to water and/or sewer system improvements or refinancing of existing debt obligations incurred by communities for projects such as:

Water/wastewater facility expansion, replacement, improvement, and/or repair
Water supply reservoirs
Water rights acquisition
Storage tanks
Water storage rights acquisition
Water supply and distribution lines
Land acquisition for source water protection and water/wastewater systems
Wastewater treatment, distribution, and storage
Water collection and treatment
Combined stormwater/sewer system overflow correction
Environmentally innovative projects
Habitat protection and restoration practices
Floodplain restoration and stream bank stabilization
Storm, sewer, and drainage improvements
Planning/assessment and monitoring practices
Dam rehabilitation

Complete the loan application
Prepare supporting documentation:
- Engineering Report for water or wastewater projects following the format adopted by the Funding Agency Coordinating Team (FACT) and any planning or specification documents
- Weighted Loan Term Worksheet for General CWSRF Projects or for Stormwater/Green Projects
Select bond counsel
Submit the application and supporting documentation to the Financial Assistance Division at FAD@owrb.ok.gov

Please contact us at (405) 530-8800 for more information or review our Frequently Asked Questions.

Low interest rate based on the OWRB's AAA credit rating
0.20% administration fee
Up to 30 year term
1.25x debt coverage ratio requirement
Local reserve requirement is satisfied when one of the following is met:
- Cash reserve up to 10% of the loan amount
- 'Super Debt Coverage Ratio' of 1.40x
- Minimum credit rating of A- affirmed in the last 18 months
- Surety policy in the amount of not less than the cash reserve requirement