Environmental Facilities Corporation (EFC) Industrial Finance Program (IFP)

The Industrial Finance Program (IFP) provides low-cost financings to businesses for projects related to waste management, pollution control, drinking water, wastewater and solid waste facility improvements, and environmental regulation compliance.

Eligible Recipients:
Public and private entities.

Eligible Projects:

The Industrial Finance Program projects that have a public benefit may quality as tax exempt if 95% or more of the net proceeds are used to fund these following types of facilities:

  • Solid waste facilities and equipment for the handling, disposal, transportation, and recycling of solid waste such as municipal solid waste landfills, construction and demolition landfills, ash-fills, hauling/transport equipment and transfer stations, resource recovery facilities, and recycling facilities and equipment. Bond Counsel options as to eligibility are usually required.
  • Sewage treatment facilities for privately owned wastewater treatment facilities serving the public, including sewers, piping, force mains, pumps, clarifiers, and sludge handling facilities that fall below D.O.B. limits.
  • Drinking water supply and management facilities such as mains, piping, wells, treatment works, finished water reservoirs, and other storage facilities for public use.
  • Industrial hazardous waste disposal facilities for landfill and incineration of hazardous waste, and capital costs associated with Brownfields site remediation.

Other types of environmental facilities may be financed with taxable IFP bonds. In certain cases, the most economical way to finance a particular project may be to use funding from both the IFP and the Clean Water State Revolving Fund and Drinking Water State Revolving Fund programs.

Funding Source:
Environmental Facilities Corporation (EFC)

Funding Amount:
The minimum amount of an IFP financing is approximately $10 million. There is usually no maximum limit. The financing is subject to certain federal and state law requirements and approvals, including obtaining a state tax-exempt bond volume cap. IFP bonds may be amortized for a term of up to 40 years, depending on the useful life of the facilities that are financed and other factors.


Brian McClintock
Finance Manager
(518) 402-7085

More Information: