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Revolving Loan Fund Application Packet (Exhibit A)City of Genoa 333 East First Street Genoa, IL 60135June 2023Eligible Business Area (Proposed TIF Area)A. Overview: The City of Genoa Revolving Loan
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How to fill out state revolving fund loan

01
Review the state revolving fund loan application requirements.
02
Gather all the necessary supporting documents such as financial statements, project plans, and cost estimates.
03
Complete the loan application form accurately and thoroughly.
04
Include a comprehensive project description and justification for the loan.
05
Provide details on the project's environmental impact and potential benefits.
06
Submit the completed application along with all the required documents to the state revolving fund agency.
07
Await review and evaluation of the application by the agency.
08
If approved, negotiate the terms and conditions of the loan with the agency.
09
Once the terms are agreed upon, sign the loan agreement and fulfill any additional requirements.
10
Use the loan funds for the designated project and follow the requirements and guidelines provided by the agency.
11
Repay the loan according to the agreed-upon terms and schedule, including any interest or fees.
12
Ensure regular communication and reporting with the state revolving fund agency throughout the loan period.

Who needs state revolving fund loan?

01
Municipalities or local governments planning infrastructure projects.
02
Water and wastewater utilities in need of financing for capital improvements.
03
Non-profit organizations working on environmental conservation or restoration projects.
04
Private companies undertaking projects related to water quality improvement, energy efficiency, or renewable energy.
05
Entities seeking funding for projects that comply with federal regulatory requirements related to clean water or drinking water quality.
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A state revolving fund loan is a type of financial assistance provided by state governments to help finance water quality improvement projects, including wastewater management and drinking water infrastructure.
Entities that are undertaking eligible projects to improve water quality, such as municipalities, local governments, and certain nonprofit organizations, are typically required to file for a state revolving fund loan.
To fill out a state revolving fund loan application, applicants generally need to provide project details, estimated costs, financial capability information, and any necessary environmental assessments. Specific instructions can vary by state.
The purpose of state revolving fund loans is to provide low-interest financing for projects that protect public health and the environment by improving the quality of water and enhancing wastewater treatment facilities.
Typically, applicants must report information such as project scope, budget, timeline, expected outcomes, and compliance with environmental regulations associated with their projects.
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