The Stormwater Project Accelerator (SPA) provides upfront capital for green stormwater infrastructure projects that will eventually be funded through state and local reimbursement grants.
$5M+
Financed
Conservative estimate from published SPA lending years; confirm with RIIB
0%
Interest
Ready to apply
For nonprofits interested in accelerating grant-funded projects. Provides construction-style loans when a project has grant funding but needs cash flow before grant reimbursement.
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For: Municipalities, non-profit organizations, and utilities may participate, subject to a signed grant agreement and program approval.
Use: Upfront capital for projects that are expected to secure state and/or local reimbursement, including green infrastructure, nature-based solutions, and stormwater best management practices that address water quality.
Terms: Projects must secure state or local funding and provide a signed grant agreement. Financing and timelines are structured case by case. Loans are interest-free with a 1.5% fee on the total loan to cover loan administration.
Anthony Hebert, Business Development Officer
For more information about the Stormwater Project Accelerator, please contact:
Partner City of Newport Challenge: Mitigating stormwater runoff into Almy Pond, one of the most distressed bodies of water in the state. Solution: $180,000 Municipal Resilience Program Action Grant. Results: The City of
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