Program Information


Informational webinar

Find out more about the CWIFP loan program including: eligibility, benefits, and how to apply.

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CWIFP logo: a waterdrop over a green circle. Text reads: Corps Water Infrastructure Financing Program, an innovative approach to project financing.

Frequently Asked Questions

CWIFP General
Frequently asked questions about CWIFP.

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 Q:  What does CWIFP stand for?

A:  CWIFP stands for the Corps Water Infrastructure Financing Program.

 Q:  How are CWIFP and WIFIA different?

A:  They are the same. The Water Infrastructure Finance and Innovation Act of 2014 (WIFIA) granted the United States Army Corps of Engineers (USACE) and the Environmental Protection Agency (EPA) authority for a Federal loan program.  The Corps decided to call its program the Corps Water Infrastructure Financing Program (CWIFP) to avoid confusion with the established EPA WIFIA program.  CWIFP enables local investment in projects that enhance community resilience to flooding, promote economic prosperity, and improve environmental quality.

 Q:  How is the credit subsidy ratio set?

A:  The credit ratio is calculated on a project-by-project basis at the time of loan obligation. Project A with a higher credit quality would consume less of the credit subsidy than Project B with a lower credit quality, even if the projects are otherwise identical.

 Q:  Are District offices going to be involved in the process?

A:  CWIFP is being managed by USACE Headquarters staff. All questions should be directed to USACE Headquarters at, and all application materials will be submitted to USACE Headquarters. Projects within a District’s area of responsibility will be communicated with that District for technical/engineering coordination as necessary.

 Q:  Can a CWIFP loan be paired with tax exempt financing?

A:  Yes.

 Q:  What is the best way to stay informed about the CWIFP?

A:  USACE will post regular updates on the CWIFP website at

 Q:  What information is considered confidential?

A:  Borrowers are strongly encouraged to clearly mark and identify as “confidential” each page of any document the borrower has determined contains confidential information prior to submitting the documents to the CWIFP.  In the event of a request for information under the Freedom of Information Act (FOIA), USACE will conduct an independent review of all responsive documents, which may include documents that have been marked confidential by a borrower, to determine what if any documents or information is responsive or exempt from disclosure. Under a FOIA request, USACE will not disclose any information that is deemed to be confidential in accordance with applicable law

 Q:  Is there a maximum disbursement period for a CWIFP loan?

A:  We request that all funds be disbursed within 7 years of loan closing.


Frequently asked questions about CWIFP Eligibility.

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 Q: Who can apply for CWIFP assistance?

A:  To be eligible for CWIFP credit assistance, a prospective borrower must be at least one of the following:

  • A corporation
  • A partnership
  • A joint venture
  • A trust
  • A State or local governmental entity, agency, or instrumentality
  • A tribal government or consortium of tribal governments
  • A State infrastructure financing authority
 Q: What types of projects are eligible for CWIFP?

A:  Project eligibility is further described on the Program Eligibility  page.

 Q:  Are indirect improvements that improve dam safety eligible under this program?

A:  For a dam safety project to be eligible for CWIFP credit assistance, the borrower must show a decrease in the hazard and/or a decrease in the potential consequences of poor performance of the existing NID listed dam structure. This improvement can be achieved from direct or indirect modifications within the system to achieve a safety improvement. As an example, borrowers may implement watershed-based solutions that decrease the hazard at or downstream of an eligible dam, and the cost of those watershed based solutions may be an eligible project expense under CWIFP.  However, a proposed project will need to be reviewed for eligibility based on its own specific circumstances.

 Q:  Are territories of the United States and the District of Columbia, or entities within such territories, eligible for CWIFP assistance?

A:  Yes.  For purposes of CWIFP, any territory of the United States, and the District of Columbia, are considered states.  Therefore, any eligible entity listed in 33 U.S.C. 3904 located in a territory or the District of Columbia may receive CWIFP assistance, including the governments of those territories.

 Q:  Are non-profit entities eligible for CWIFP assistance?

A:  Yes. Non-profit entities are typically organized as corporations or partnerships, both of which are defined as eligible entities in 33 U.S.C. 3904.

 Q:  Can multiple entities come together and jointly apply?

A:  Yes. Multiple entities can come together under one application with a common security pledge.

 Q:  How do we define private entities?

A:  To be eligible under this program, a borrower must be one of the following: A corporation; a partnership; a joint venture; a trust; a State, or local governmental entity, agency, or instrumentality; a tribal government or consortium of tribal governments; or a State infrastructure financing authority.

 Q:  What is considered an economically disadvantaged community?


A:  To be considered economically disadvantaged, a community only needs to meet one of the following criteria:

  • Low income - The area has a per capita income of 80 percent or less of the national average;
  • Unemployment rate above national average - The area has an unemployment rate that is, for the most recent 24-month period for which data are available, at least 1 percent greater than the national average unemployment rate;
  • Indian country as defined in 18 U.S.C. 1151 or in the proximity of an Alaska Native Village;
  • U.S. Territories; or
  • Communities identified as disadvantaged by the Council on Environmental Quality’s Climate and Economic Justice Screening Tool (
 Q:  What does it mean to serve an economically disadvantaged community?

A:  Prospective borrowers should demonstrate that an economically disadvantaged community would benefit as a result of the proposed project. This could include if the project reduces risks to that community.

 Q:  What is the definition of Environmental Restoration for CWIFP? 

A:  For CWIFP, environmental restoration is synonymous with ecosystem restoration.  Ecosystem restoration means improving degraded ecosystem structure, function, and processes to a less degraded, more natural condition. Restored ecosystems should mimic, as closely as possible, conditions that would occur in the area in the absence of human changes to the landscape and hydrology. Ecosystem restoration is partially or fully reestablishing the attributes of a naturalistic, functioning, and self-regulating system.


Frequently asked questions about CWIFP Projects.

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 Q:  What types of projects are eligible for CWIFP?

A:  Project eligibility is further described on the Program Eligibility  page.

 Q:  Is sediment removal an eligible project type?

A:  A sediment removal project is considered eligible for CWIFP financing when the removal of sediment contributes to the safety and structural integrity of a dam, or when sediment removal mitigates storage capacity reduction that could compromise the dam's intended safe functionality. In this context, sediment removal is not merely a routine maintenance activity; rather, it serves as a critical safety measure addressing potential hazards associated with sediment accumulation.

When seeking a credit assistance through the CWIFP for sediment removal purposes, an applicant should highlight the impact of sediment accumulation on dam safety as it relates to the selection criteria

 Q:  Is there a required timeframe for completion of construction following loan closing.

A:  Typically, USACE expects projects to be completed within 7 years after closing. Disbursement schedules will be negotiated prior to closing of a loan.

 Q:  How much financial assistance can I obtain for my project?

A:  CWIFP can provide credit assistance of up to 49% of total project costs, and up to 80% of total project costs for projects that serve economically disadvantaged communities. Total Federal funding for the project may not exceed 80% of total project costs.

 Q:  Can CWIFP credit assistance be used to finance costs in addition to construction?

A:  Yes, eligible costs for CWIFP credit assistance can include:

  • Development-phase activities (including consulting fees, feasibility and design costs)
  • Construction, reconstruction, rehab, and replacement activities
  • Acquisition of property used to mitigate environmental impacts of eligible projects
  • Capitalized interest, reserve funds, issuance costs, and other project carrying costs during construction.
 Q:  Is Design-Bid-Build the only project delivery method that will work?

A:  No, CWIFP will consider and encourages alternative delivery mechanisms including Design-Build and public-private partnerships (P3).

 Q:  Will projects have to comply with all applicable federal laws and regulations to receive a loan?

A: Yes, projects will have to comply with all applicable federal laws and regulations as described in the CWIFP Program Rule.

 Q:  Can a state apply for a pool of funds and disburse on a project basis?

A:  Yes, that would be possible as long as the projects all meet the eligibility requirements and are completed within no more than seven years of loan close.

 Q:  Are projects required to undergo the Corps justification process such as the estimation of a benefit cost ratio to be eligible for CWIFP?

A:  No. The typical “Corps Process” is not required for a CWIFP loan. To be economically justified the borrower must demonstrate that the benefits exceed the costs of a project.  During the application evaluation process, the Corps will determine whether collateral provided for the CWIFP credit assistance, which functions as a proxy for the value beneficiaries receive from the project, exceed applicable project costs. We will not be expecting a project to go through the Corps NED or Benefit/Cost ratio justification to be determined economically justified.

 Q: May projects with multiple funding partners apply for CWIFP assistance? What limitations exist?

A: In general, CWIFP funds will be provided to borrowers on a first come, first served basis, meaning that the participant to submit an application for CWIFP credit assistance during the earliest CWIFP funding round  will be eligible for the full amount of CWIFP funding available to their project. If an applicant does not request the full amount of CWIFP funding available to the project (either 49 percent or 80 percent of total project costs depending on eligibility limitations and available funding), the additional amount of CWIFP funding available for that project can be utilized by other borrowers of the same project during subsequent CWIFP funding rounds.

If multiple borrowers submit a single, combined preliminary application or multiple preliminary applications for CWIFP credit assistance for the same project during the same funding period, CWIFP will first allocate available funding between the parties based on any existing agreement to allocate CWIFP funds between the parties. If there is not an existing agreement between the parties regarding the matter, CWIFP will allocate available funding ratably, according to the relative share of each funding partner for the project.

 Q: What environmental restoration activities may be eligible for CWIFP?

A: Examples of environmental restoration activities that may be associated with safety projects to maintain, upgrade, and repair dams may include: dam removal and restoration of natural floodplains, wetlands, and waterways; dam modifications like partial dam removal and spillway modifications, waterway modifications, fish passage, barriers to prevent undesirable species, and floodplain reconnection; and sediment removal with waterway restoration.


Interest Rate and Loan Repayment​
Frequently asked questions about CWIFP Interest Rate and Loan Repayment.

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 Q:  How is the interest rate on loans determined?

A:  The interest rate will be equal to or greater than the yield on U.S. Treasury securities of comparable maturity on the date of execution of the credit agreement. The base interest rate can be identified through use of the daily rate tables published by the Bureau of the Fiscal Service for the State and Local Government Series (SLGS) investments, which can be found at Treasury Direct SLGS Daily Rate Table ( The CWIFP program will estimate the yield on comparable Treasury securities by adding one basis point to the SLGS daily rate with a maturity that is closest to the weighted average loan life of the CWIFP credit assistance, measured from first disbursement.

 Q:  When will USACE lock in the actual rate for the loan?

A:  The interest rate is locked at loan closing and the execution of the credit agreement.

 Q:  When must loan repayment begin?

A:  Loan repayment can be deferred up to five years following substantial completion of the project. Beyond that, USACE has flexibility to structure repayment to best match the cashflow of the project in question. USACE and prospective borrowers will negotiate the repayment schedule for each project, and it will be included in the credit agreement.

 Q:  The WIFIA statute requires a dedicated pledged revenue source for repayment of credit assistance.  How is dedicated revenue source defined?

A:  CWIFP interprets “dedicated revenue sources” to include such sources as taxes, rate revenue, transfers pledged from State or local governments, municipal general obligation pledges, general recourse corporate financing, project revenues, or other revenues that are pledged for the purpose of paying debt service on the CWIFP credit instrument. Federal funds are not considered a dedicated source of repayment.


CWIFP Application
Frequently asked questions about the CWIFP Application.

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 Q: How do I apply?

A:  Prospective borrowers should complete applications electronically via the online application portal located at PDF versions of the preliminary and full application forms (OMB Control Number 0710-0026) are provided below to inform prospective borrowers of the information that will be requested in the online portal. Applications must be completed in the online application portal; the forms provided below are for reference only and will not be accepted as application submissions. 

 Q:  How do I register for SAM.GOV?

A:  Register for SAM.GOV Here.

 Q:  How long is the repayment period?

A:  Repayments must commence no later than five years following substantial completion of the project. Repayment of all principal and interest must be completed by 35 years after the date of substantial completion of the project or the project’s useful life, whichever comes earlier. The debt service repayment schedule may be sculpted to accommodate the projected cash flow from project revenues and other sources.

CWIFP defines substantial completion as the stage in the progress of the project when the project or designated portion thereof is sufficiently complete in accordance with the contract documents for each individual agreement, so that the project or a portion thereof can be used for its intended purpose.

 Q:  How does the application process work? 

A:  Once a Notice of Funding Availability (NOFA) (link to: CWIF Program Eligibility ( is posted notifying the public that new funding is available, USACE will be ready to accept preliminary applications from prospective borrowers.  Applying for financing through CWIFP is a two-step process: 

  • Preliminary Application: Borrowers will need to submit a preliminary application. After reviewing preliminary application submissions, USACE will invite projects that are reasonably anticipated to meet the eligibility requirements and for which CWIFP has sufficient budget authority to apply to the full application. 
  • Full Application: Once invited to apply, applicants will have one year (365 days) to complete and submit a full application.
 Q:  What are the application requirements?

A:  Please see the CWIFP Required Docs Checklist located on CWIFP’s online application portal

 Q:  When are applications due?

A:  The preliminary application due date will be set in the NOFA (link to: CWIF Program Eligibility (  If an applicant receives an invitation to submit an application, they will have 60 days to accept the invitation and pay the non-refundable application fee deposit.  The applicant has 365 days from the date they accept the CWIFP invitation to apply to submit a completed CWIFP application.

 Q:  How long will it take for a decision to be made on a loan application?

A:  Once a completed application is received, USACE will work with the applicant to expeditiously as possible move towards issuance of a loan.

 Q:  If an application is approved, when will the project receive funds?


  • The applicant will receive funding after closing of the loan consistent with the terms of the loan agreement and disbursement schedule.
  • Disbursements may be scheduled as often as once per month, and will be made on the 15th of each month. There is no limit to a disbursement request other than the amount of funding remaining available on the loan.
  • A borrower can request the disbursement as needed; however, please note that interest is only charged on funds that have been disbursed and disbursements can only be for costs incurred.


Dam Safety Projects
Frequently Asked Questions about Dam Safety Projects.

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 Q:  Do dam projects have to meet a certain criteria or condition classification to be eligible for a loan?

A:  Dams must be non-Federally owned and listed in the National Inventory of Dams. Dam projects of any condition can apply for a loan (i.e., they do not have to be classified as “high hazard potential”). 

 Q:  Can the CWIFP program be used in combination with the FEMA High Hazard Potential Dam Rehabilitation Grant program?

A:  Yes, CWIFP can be used with other Federal loan and grant programs as long as the total Federal participation (loan proceeds plus the grant or other Federal funds) do not exceed 80% of the total project costs and the requirements of each of the individual programs is met.

 Q:  Are privately owned dams that are located on Federal land eligible for CWIFP assistance?

A:  Yes, as long as the dam is owned and operated by a non-federal entity. If you have a project like this, contact the CWIFP office early to discuss the details.

 Q:  What types of dam projects are eligible for CWIFP credit assistance? 

A:  Non-federal dam safety projects to maintain, upgrade, repair or remove a dam identified in the National Inventory of Dams are eligible for CWIFP credit assistance, assuming all other eligibility requirements are met.

 Q:  Would projects under FERC regulation be eligible?

A:  Yes, so long as the project is owned and operated by a non-federal entity.

 Q:  Are dams that were designed and built by a federal agency and subsequently turned over to a local government to own and operate eligible for CWIFP credit assistance?

A:  Most likely.  To be eligible for a CWIFP loan the infrastructure in question must be currently owned and operated by a non-federal entity. If you have a project like this, contact the CWIFP office early to discuss the details.



May, 31, 2024 - A waiver of BABA requirements of manufactured products for CWIFP awards was executed on May 31st by the Assistant Secretary of the Army (for Civil Works), Mr. Michael Conner.  This waiver is applicable for one year for projects that initiated design planning prior to May 14, 2022, the effective date of BABA.