Swainsboro, Georgia, was awarded a $1,261,000 Drinking Water State Revolving Fund (DWSRF) loan by the Georgia Environmental Finance Authority (GEFA) board of directors.
The loan will finance constructing a new elevated storage tank. The city’s current tank has fallen into disrepair and is no longer capable of rehabilitation. This project will improve the city’s water quality and maintain regulatory compliance.
The city will pay 1.13% interest on the 20-year loan. The city is eligible for principal forgiveness up to $630,500.
The DWSRF provides low-interest loans for infrastructure projects that deliver safe, affordable drinking water. These projects conserve and improve water resources and facilitate economic development. The program is jointly funded by the U.S. Environmental Protection Agency and the state of Georgia.
About the Georgia Environmental Finance Authority (gefa.georgia.gov):
The Georgia Environmental Finance Authority (GEFA), headquartered in Atlanta, provides financing for a variety of energy, land, and water projects. Since 1985, GEFA has approved financial commitments totaling more than $5 billion to local governments, businesses, and nonprofit organizations. For more information, visit gefa.georgia.gov, Twitter, Facebook, LinkedIn, YouTube, or Flickr.
