Top 10 Facts about The State Revolving Loan Funds

This fact sheet from the Environmental and Energy Study Institute describes the State Revolving Loan Funds (SRFs), specifically the Clean Water SRF (CWSRF) and Drinking Water SRF (DWSRF), detailing their financial structure, return on investment, and role in funding U.S. water infrastructure.

• The State Revolving Loan Funds (SRFs) operate as finance programs where federal grants are provided to states, which then issue loans to local utilities that must be repaid to fund subsequent projects.
• The SRFs demonstrate a high return on investment (ROI). Since 1997, the Drinking Water SRF (DWSRF) converted $28 billion in federal appropriations into $57 billion (a 2:1 ROI), and since 1988, the Clean Water SRF (CWSRF) converted $52 billion in federal investments into $172 billion (more than a 3:1 ROI).
• SRFs provide below-market interest rates, averaging 1.5 percent. This results in significant savings compared to municipal markets; for a $20 million loan over 20 years, a community might pay $4.1 million in interest via the SRF compared to $9.5 million at a 4.1 percent market rate.
• The funds support disadvantaged communities, with the DWSRF providing 36 percent of its loans to such communities since its creation and the CWSRF providing approximately 31 percent in recent years.
• Between 2009 and 2020, the CWSRF funded over $8.6 billion and the DWSRF funded $1.9 billion in green projects, including energy and water efficiency and green infrastructure.
• The EPA's 2022 Clean Water Needs Survey (published in 2024) estimates the national need to maintain existing clean water infrastructure is at least $630.1 billion over the next 20 years, noting this is likely an underestimate.

APA

Environmental and Energy Study Institute (n.d.). Top 10 Facts about The State Revolving Loan Funds. https://www.eesi.org/files/SRF_factsheetpager.pdf

Chicago

Environmental and Energy Study Institute. Top 10 Facts about The State Revolving Loan Funds. n.d. https://www.eesi.org/files/SRF_factsheetpager.pdf.

Wikipedia

{{cite report |author=Environmental and Energy Study Institute |title=Top 10 Facts about The State Revolving Loan Funds |url=https://www.eesi.org/files/SRF_factsheetpager.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{environmentalandenergystudyinstitutendtop, author = {{Environmental and Energy Study Institute}}, title = {{Top 10 Facts about The State Revolving Loan Funds}}, institution = {Environmental and Energy Study Institute}, url = {https://www.eesi.org/files/SRF_factsheetpager.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }