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CoBank/TRWA Loan Program
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TRWA Loan Program:

TRWA has partnered with CoBank to provide financing options for all of the needs of Texas’ rural water and wastewater utilities.  We hope that the lower pricing and expedited review that we’ve arranged with CoBank will be a valuable benefit to your membership in TRWA.

While we are very excited about this opportunity, we recognize that the TRWA Loan Program isn’t always the best choice for your water system and we continue to recommend that you analyze all the options before you make a financing decision.  Depending on your organization type, the final form of financing may not be a loan (i.e. SUDs are required to use notes and bonds) but the TRWA negotiated pricing will still be in effect. Please be advised that this program does not remove the traditional credit approval process and the information on this webpage is not a commitment to lend.


For more information, contact John DeLuca at or call (303) 694-5958.


USDA Interim (Construction) Loans:

One of the conditions associated with a Direct Loan with USDA Rural Development is finding a third party to provide interim funding.  A TRWA interim loan, through CoBank, is a no fee, low cost, way to meet that condition.  The loan is structured to match the timing of your project and you only pay interest on the money that’s used.  Often that interest can even be capitalized into your USDA Loan, which means you can use funds from your interim loan to pay interest on that same interim loan. 

A typical interim loan from CoBank comes with an interest rate of one month Libor ( + 2% and an upfront fee of $2,500.  TRWA has worked with CoBank to provide water and waste water utilities in TX a lower interest rate (1.75% instead of 2%) and no fees.  CoBank is the leading provider of interim loans for water and wastewater utilities combining their expertise with our negotiated lower pricing makes this a fantastic option.  


USDA Guaranteed Loans:

USDA Guaranteed Loans are a great way to work with USDA Rural Development through a third party lender. With a TRWA USDA Guarantee Loan, through CoBank, you’ll get all the expertise that comes with the nation’s leading provider of USDA Water and Wastewater Guaranteed loans with an interest rate that is lower than available to non-TX utilities.  Additionally, you can finance your project for up to 3 years with a fixed rate, no fees come from CoBank (there is a 1% fee charged by USDA Rural Development to pay for the guarantee) and your application qualifies for expedited review.  USDA’s guarantee program has changed materially recently, and is a great option for utilities in high growth areas.  For more details please speak with either CoBank or USDA.


TRWA Line of Credit:

A line of credit is a great way to backstop your utility’s rainy day fund.  Emergencies happen and it’s important to have enough money available to deal with them when they do.  A line of credit can also finance small items like a new computer system, improvements to your SCADA system, painting a water tank, the options really are endless.  A TRWA Line of credit, through CoBank, comes with a standard interest rate of one month Libor ( + 1.75% and you will not pay interest unless you use the line of credit.  Additionally, there are no fees to set up the line of credit and your application qualifies for expedited review.  This is a great way to utilize the TRWA Loan Program even if your big project is a few years away.


TRWA Term Loan:

Sometimes a small to midsized project comes up that needs to be dealt with immediately.  TRWA has worked with CoBank to provide your solution.  With flexible terms and a fixed rate for up to 20 years, a TRWA Term Loan is the right funding choice for a project where it doesn’t make sense to use one of the more traditional financing products.  The Interest rate on a TRWA Term Loan is 0.25% lower than the rate available to the rest of the country and there are no fees charged by CoBank or TRWA.  Additionally your application qualifies for expedited review, which means you’ll have your financing in place a lot quicker than you expected. 


Information to Get Started:

Every loan application is different, but here are a few things to have ready when you contact CoBank to start the process:


·  Project description

·  Last three years financial statements

·  Manager bio

·  List of board members (if applicable)

·  Bylaws

·  Articles of Incorporation (if applicable)

·  Tax ID number

·  Proof of insurance (property and liability)


For more information, contact John DeLuca at or call (303) 694-5958.


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