Portsmouth Receives $2 Million From R.I. Infrastructure Bank To Continue Septic System Loan Program For Homeowners

PROVIDENCE, R.I. – Rhode Island Infrastructure Bank, the state’s central hub for financing infrastructure improvements for municipalities, businesses, and homeowners, has closed on a $2,000,000 loan to the that will allow the Town of Portsmouth to continue making 0% interest loans to qualifying homeowners to repair or replace failing septic systems and cesspools. The loan is being made through the Infrastructure Bank’s Community Septic System Loan Program.

“We recognize the substantial 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 extend this $2 million loan to the Town of Portsmouth to ensure the continuation of their 0% interest loan program for homeowners to replace failing septic or cesspool systems. This will help both homeowners and the environment.”

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