Water And Waste Disposal Direct Loan Program:

PURPOSE

The Water and Waste Disposal Direct Loan Program provides funds used to construct or improve water, waste water, and solid waste facilities in rural communities throughout Mississippi .

ELIGIBILITY

Public Bodies

Non-Profit Organizations

Federal & State Recognized Indian Tribes

Utility districts located in rural areas, cities, and towns with populations of 10,000 or less

FUND USE

Initial operating expenses

Purchase of necessary equipment

Pay cost of land acquisition, rights-of-way, permits, etc.

Pay interest on loan until facility is self-supporting (up to three years)

Pay professional fees (legal and engineering) for project development

Other costs related to building, operating, and maintaining rural water, waste, & treatment facilities

Construct, enlarge, extend, or otherwise improve water or waste disposal facilities

Refinancing existing debts if debts, (1) are secondary part of loan amount (less than 50% of the total loan), (2) were incurred for facility or service currently being financed, (3) no new arrangements are made with present creditors to extend or modify the terms of existing debts

RATES

Poverty Rate – Set at 4.5%

Intermediary Rate – Set halfway between the Market and the Poverty rates

Market Rate – Indexed to the eleventh bond buyers rate as determined by the U.S. Treasury Department

Rate Eligibility is determined by the Median Household Income (MHI) of the area being served and the type of project

TERMS OF REPAYMENT

Maximum repayment period – 40 years

RESTRICTIONS

Rural areas, towns, & cities maximum population – 10,000 or less

APPLY TODAY

To get started building your future today, contact your Local Area Office to fill out an application packet and begin the approval process.