The question we hear most from municipal leaders and community developers is, "How can we get grant funding?" We are happy to assist with this (After completing our intake form!), but sometimes the smarter question is "Should we use a loan instead?" While grants may seem like the obvious choice—free money, after all—loans often provide the flexibility and control that can make or break a project's success. As federal funding sources become less predictable in the coming years, understanding when and how to leverage loan financing becomes even more critical for municipal leaders.
In early October, the SWPA Municipal Project Hub held a webinar entitled, A Game-Changing Municipal Financing Option: Rural Water Financing Agency Programs which showcased a new loan product available to communities in Pennsylvania. During this webinar, the audience heard from Indiana Borough regarding their recent experience financing a solar project at their wastewater treatment plant, as well as Mike McCaig of Raymond James, who explained the benefits of this option.