ISU revolving fund marks $100 million
DES MOINES (IFA) – The Iowa Finance Authority and the Iowa Division of Soil Conservation and Water Quality announced March 8 that $100 million in low-cost financing has assisted more than 1,600 Iowa landowners and farmers with projects to improve Iowa’s waterways through the State Revolving Fund.
The fund offers low-interest loans through participating lenders that assist farmers, livestock producers and others with water quality projects on their farms.
Iowa landowners have used the programs for a total of more than 4,000 projects including filter strips, grade and stream stabilization, grassed waterways, terraces and manure management.
“The milestone of $100 million in loans to Iowa landowners for water quality projects is no small effort,” said Dave Jamison, Iowa Finance Authority executive director. “I commend the landowners who have used the low-cost financing for their shared dedication to improving Iowa’s water quality.”
The revolving fund programs feature a 3 percent, fixed interest rate, up to 15-year terms and loan limits of up to $500,000.
Landowners have the ability to fund their entire projects and the convenience of working with the lender of their choice.
“The fund always has funding available for water quality projects,” said Jim Gillespie, director of the Division of Soil Conservation and Water Quality. “I encourage anyone considering a water quality project to contact our office today for more information.”
For more information about the State Revolving Fund visit: IowaSRF.com or call (515) 281-6148.
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