WIFIA Application Process
The WIFIA application process is two phases:
Phase 1: Project Selection:
EPA announces the amount of funding it will have available and solicits letters of interest from prospective borrowers in a Notice of Funding Availability (NOFA) published in the Federal Register and the WIFIA program website. In the letter of interest, prospective borrowers provide information that EPA used to determine the project’s eligibility, creditworthiness, engineering feasibility, and alignment with EPA’s policy priorities. In addition, OMB evaluates whether the project complies with budgetary scoring rules. Based on these reviews, EPA selects projects which it intends to fund and invites them to continue to the application process.
Beginning in FY 2022, EPA is changing the way it accepts letters of interest. Prospective borrowers can submit letters of interest for review by EPA on a rolling basis from the date listed in the Notice of Funding Opportunity until the earlier of (i) the commitment of all available funding made available for that round and (ii) publication of a subsequent notice cancelling or overriding the current NOFA. A rolling selection process allows EPA to provide year-round access to WIFIA funding and quicker selection decisions to prospective borrowers.
Phase 2: Project Review, Negotiation, and Closing:
Each invitee must apply for its WIFIA loan. The WIFIA program conducts a detailed financial and engineering review of the project. Based on that review, the WIFIA program proposes terms and conditions for the project and negotiates them with the applicant until they develop a mutually agreeable term sheet and loan agreement. Prior to closing, the WIFIA program must receive approval from the Administrator or his designee and the Office of Management and Budget. At closing, the prospective borrower executes the credit agreement, which is the binding legal document that allows the borrower to receive WIFIA funds.
For more details on the application process, see the WIFIA Program Handbook.