Brownfields Revolving Loan Fund Underwriting Services

The Vendor is required to provide discounted and flexible loan terms (in addition to grants) to meet these goals, prioritizing projects that provide clear tangible public benefits and would not be possible without advantageous financing.
- Provide guidance and financial oversight that considers the differing needs and capabilities of FY25 Revolving Loan Fund (RLF) loan applicants, which may include municipalities, nonprofits, and for-profit entities; unique and sometimes limited financial assets; varying levels of financial risk; and a range of experience in real estate development, environmental remediation, and financial management.
- The RLF program will operate somewhat differently.
- anticipates issuing only 3-5 loans during the first four years of the program, with dollar amounts totaling approximately $50,000- $250,000.
- Loan funds will be disbursed directly to borrowers, either on an actual expense basis or on a predetermined schedule / progress payment basis.
- Conduct credit analysis and review of financial information for each eligible applicant and make recommendations to agency regarding the credit worthiness of proposed projects.
- Interest rate, which should be below market or conventional lending rates, and may be as low as 0% for municipal and non-profit borrowers
- Maintain duplicate project files of all loan applications and related documents and transactions.