State revolving funds (SRFs) have been used for decades as a source of low-cost financing for a variety of water-infrastructure projects. For example, if a local public water system needs new storage tanks, is looking to implement a project to recapture stormwater, or requires funding for other gray infrastructure projects that help meet water quality standards, borrowers can apply for loans through a state’s Clean Water State Revolving Fund (CWSRF). Each state also has a Drinking Water State Revolving Fund (DWSRF) that works similarly to the CWSRF but is focused on financing safe drinking water systems.
