Clean Water SRF Program

  • Created in 1987 by the Clean Water Act, the Environmental Protection Agency (EPA) provided all 50 states seed money to capitalize state loan funds. The states then in turn help sewer systems by financing high-priority water-quality activities.

    Project & Financial Manager

    The Bond Bank and DEP jointly administer the CWSRF. The Bond Bank serves as the financial administrator and financial manager and DEP serves as the environmental and project manager for the program.

    Eligible Borrowers

    All publicly owned wastewater treatment facilities.

    Eligible Projects

    Examples of eligible projects include but are not limited to:

    • Secondary & advanced treatment facilities
    • Infiltration & inflow correction
    • Interceptors
    • Pumping stations
    • Force mains
    • Combined sewer overflow abatement
    • Certain sewer extensions in designated areas and areas of failing septic systems

    Application Deadline

    Applications are accepted continuously during the year.


    At or below-market interest rates.

    Minimum/Maximum Loan Amount

    There is no minimum loan amount. The DEP will determine the maximum loan amount based on availability of funds and project eligibility.

    Issuance Costs & Fees

    • Pro rata share of the issuance cost associated with a bond issue (if applicable)
    • DEP administrative fee – 3.5% of annual debt service payment
    • Bond Bank servicing fees – 1.5% of the annual debt service payment

    As costs associated with the SRF program change periodically, please visit our website or contact the Bond Bank for a current fee schedule.


    Between 1 and 30 years. In all cases, the maximum loan term may not exceed the useful life of the financed asset. Short-term, interim loans are available to applicants.

    Repayment Schedule

    Payments are due twice a year, in April and October. The first principal payment is due within one year from project completion.

    Loan Proceeds

    Both interim and long-term financing options require that the funds be drawn-down through requisitions, as the SRF is a reimbursement program.

    If you’d like to invest in municipal tax-exempt bonds, please click here.

    Download a printable PDF version of the information above.

  • Clean Water SRF - Emerging Contaminant (EC) Application

    Clean Water SRF - Districts Application

    Clean Water SRF - Towns & Cities Application

    Clean Water SRF - FSP and CAP Application

    Amortization Estimate

    Click here to generate an amortization estimate.

    Bond Counsel

    Local bond counsel serves a critical role in confirming the legality of debt issuances. Engaging counsel in the early stages will ensure that they will be able to provide a legal opinion, which is a loan program participation requirement.
    Download a printable PDF version of our approved list of bond counsel.

    Advantages in using MMBB

    • The Bond Bank’s strong credit rating
    • Access to capital market and low tax-exempt interest rates
    • Supportive process from application to receipt of funds

    Contact Information

    • Jeremy McDaniel
      SRF Program Officer
      (207) 622-9386 ext. 220
    • Kristi Lamoreau
      SRF Program Officer
      (207) 622-9386 ext. 227
    • Melody Piper
      SRF Program Assistant
      (207) 622-9386 ext. 215