Revolving Funds for Financing Water and Wastewater Projects in Michigan

The Revolving Fund Program (RFP) provides grants to qualified private, non-profit organizations to capitalize revolving loan funds. These funds are used to provide financing to eligible entities for pre-development costs associated with proposed water and wastewater projects or existing systems, and for short-term costs incurred for replacement equipment, small-scale extension of services, or other small capital projects that are not part of regular operations and maintenance.

Applicants must be private, non-profit entities with the legal capacity to perform grantee obligations and sufficient expertise in making and servicing loans. The program requires the establishment of a revolving loan fund comprised of grant funds and the recipient's contributed funds.

Applications are accepted when a Funding Opportunity Announcement (FOA) is posted to Grants.gov. The application process involves submitting Standard Form 424, a written work plan demonstrating the ability to make and service loans, evidence of legal existence and tax-exempt status, and the most recent annual audit. Applications are scored based on expertise, work plan quality, applicant contributions, and other criteria.