DES MOINES – The Iowa Finance Authority and the Iowa Division of Soil Conservation and Water Quality Tuesday announced that $100 million in low-cost financing has assisted more than 1,600 Iowa landowners and farmers with projects to improve Iowa’s waterways through the State Revolving Fund.
The State Revolving Fund offers low-interest loans through participating lenders that assist farmers, livestock producers, and others with water quality projects on their farms. Iowa landowners have used the programs for a total of more than 4,000 projects including: filter strips, grade and stream stabilization, grassed waterways, terraces and manure management among others.
“The milestone of $100 million in loans to Iowa landowners for water quality projects is no small effort,” said Iowa Finance Authority Executive Director Dave Jamison. “I commend the landowners who have used the low-cost financing for their shared dedication to improving Iowa’s water quality.”
The State Revolving Fund programs feature a three percent, fixed interest rate, up to 15 year terms and loan limits of up to $500,000. Landowners have the ability to fund their entire projects and the convenience of working with the lender of their choice.
“The State Revolving Fund always has funding available for water quality projects,” said Jim Gillespie, Director of the Division of Soil Conservation and Water Quality. “I encourage anyone considering a water quality project to contact our office today for more information.”