The OWRB Financial Assistance Division assists communities in their efforts to protect and conserve Oklahoma's water resources for current and future generations through cost-effective financial products, technical assistance and high quality customer service.
As of April 28, 2023, the OWRB Financial Assistance Division had approved 2,516 loans and grants for a total of $6.44 billion. These financing opportunities have saved Oklahoma communities an estimated $1.73 billion over conventional financing options.
Who Qualifies for Financing?
Eligible entities include political subdivisions of the state, such as:
The CWSRF loan program is funded by EPA capitalization grants, state matching funds, and bonds. The CWSRF is administered by the OWRB. The interest rate is approximately 60% of AAA market rate with 40% savings through federal subsidy. Learn more.
The DWSRF loan program is funded by EPA capitalization grants, state matching funds, loan repayments, investment earnings, and bonds. The DWSRF is administered cooperatively by the OWRB and the Oklahoma Department of Environmental Quality (ODEQ). The interest rate is approximately 70% of AAA market rate with 30% savings through federal subsidy. Learn more.
The OWRB's long term, low interest revenue bond loan program offers a variable interest rate wth a fixed rate conversion option. This low interest rate is based on the OWRB's AAA credit rating. Learn more.
Note: a 0.5% administrative fee is added to all CWSRF and DWSRF loans
The REAP Grant Program is a point-based program designed to assist smaller communities that lack sufficient fiscal capacity. Cities, towns, and municipalities with a population less than 1,750 are given priority. Rural water and/or sewer districts with less than 525 non-pasture customers are also given priority. Learn more.
Sewer Overflow & Stormwater Reuse Municipal (OSG) Grants
OSG grants will be selected for planning and design of projects meeting eligible sanitary sewer overflow or stormwater management criteria. There is no population restriction nor match requirement. Application is made through project placement onto the CWSRF Project Priority List (PPL) where awards will be selected.
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