PRESS RELEASE
For Immediate Release: June 2, 2026
PROVIDENCE, R.I. – Rhode Island Infrastructure Bank, the state’s central hub for financing infrastructure improvements for municipalities, businesses, and homeowners, has closed on two loans totaling $950,000 to the Town of Tiverton ($450,000) and the Town of Jamestown ($500,000). These loans, made through the Infrastructure Bank’s Community Septic System Loan Program (CSSLP), will allow both communities to provide 0% interest loans to qualifying homeowners to repair or replace failing septic systems and cesspools.
“We recognize the financial strain that septic system or cesspool replacements can impose on homeowners,” said Bill Fazioli, Executive Director of Rhode Island Infrastructure Bank. “That’s why we are pleased to make these funds available to the Town of Tiverton and the Town of Jamestown so they can offer 0% interest loans to address septic system issues. This will help homeowners manage significant costs while protecting our environment and public health from the impacts of failing septic systems.”
The CSSLP program provides low-cost, long-term financing to residential property owners for the repair or replacement of failed or substandard septic systems, or to upgrade a cesspool to a modern septic system. Borrowers typically benefit from interest-free loans with a ten-year repayment term, paying only a one-time origination fee and a small annual servicing charge. 19 communities currently participate in CSSLP: Bristol, Charlestown, Coventry, Cranston, Glocester, Hopkinton, Jamestown, Johnston, Narragansett, New Shoreham, North Kingstown, Portsmouth, Richmond, Scituate, Smithfield, South Kingstown, Tiverton, Warren, Westerly.
Tiverton and Jamestown homeowners interested in CSSLP financing should contact their respective town halls for more information and loan applications.
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About the Rhode Island Infrastructure Bank
Rhode Island Infrastructure Bank is Rhode Island’s central hub for financing infrastructure improvements for municipalities, businesses, and homeowners. We leverage capital in a revolving fund to offer innovative financing for an array of infrastructure-based projects including water and wastewater, road and bridge, energy efficiency and renewable energy, and brownfield remediation. These quality-of-life projects improve the State’s infrastructure, create jobs, promote economic development, and enhance the environment. www.riib.org – Facebook: @RIinfrastructure – Twitter: @RI_InfraBank.
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