Infrastructure State Revolving Fund (ISRF) Program

IBank's ISRF Loan Fund program provides low-cost, direct loans to local governments and nonprofits sponsored by public agencies for a wide variety of public infrastructure and economic expansion projects (excluding housing) that improve and sustain communities, helping individuals and families thrive. We focus on small and mid-/moderate-sized local governments and special districts — including those in underserved regions and communities.

ISRF loans can fund a wide variety of projects – including water and wastewater treatment plant upgrades or construction, venue or airport construction, or street repair and upgrades. ISRF financing is available in amounts ranging from $1 million to $65 million with loan terms for the useful life of the project up to 30 years.   With IBank You: • Save time — We conduct a preliminary review process and provide feedback before inviting you to apply. • Can submit applications any time of the year. We accept applications continuously, and because we issue our own bonds to generate funds, we do not run out of funding. • If approved, can receive funds within 45 to 90 days of IBank board approval.• Receive low, competitive, fixed-interest rates up to 30 years. We are AAA rated, and we pass our low borrowing costs (through bonds) to you. • Don’t have to compete against others — No scoring mechanisms, we operate on a first-come, first-served basis.• Get transparency every step of the way — No surprises We are experts in municipal lending and our loan team values access to opportunity, diversity, and inclusion and truly cares about connecting city and other local governments to the low-cost financing they need to make their important public infrastructure and economic expansion projects a reality.   Eligible Projects: Include, but are not limited to: City streets County highways State highways Drainage, water supply and flood control Educational facilities Environmental mitigation measures Goods movement-related infrastructure Housing-related infrastructure Parks and recreational facilities Port facilities Power and communications facilities Public transit Sewage collection and treatment Solid waste collection and disposal Water treatment and distribution Defense conversion Public safety facilities Military infrastructure Economic development facilities   Eligible Costs for Financing Include: • All or any part of the cost of construction, renovation, and acquisition of all lands, structures, real or personal property.• Rights, rights of way, franchises, licenses, easements, and interests acquired or used for a project.• The cost of demolishing or removing any buildings or structures on land so acquired, including the cost of acquiring any lands to which the buildings or structures may be moved.• The cost of machinery, and equipment.• Provisions for working capital.• Other expenses necessary or incidental to determining the feasibility of any project or incidental to the construction, acquisition, or financing of any project.• The cost of architectural, engineering, financial and legal services, plans, specifications, estimates, and administrative expenses.• Interest prior to, during, and for a period after, completion of construction, renovation, or acquisition, as determined by the IBank.• Reserves for principal and interest and for extensions, enlargements, additions, replacement, renovations, and improvements.