R.I. Infrastructure Bank Provides $550,000 In Septic System Loan Financing For Johnston & Scituate Programs

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 $250,000 loan for the Town of Johnston and a $300,000 loan for the Town of Scituate to allow both communities to make 0% interest loans to qualifying homeowners to repair or replace failing septic systems and cesspools. The loans are being made via the Infrastructure Bank’s Community Septic System Loan Program.

“Repairing or replacing old septic and cesspool systems can be a real financial challenge for homeowners,” said Bill Fazioli, Executive Director of Rhode Island Infrastructure Bank. “That is why we are pleased to provide $550,000 in Community Septic System Loan Program assistance to Johnston and Scituate so they can offer eligible homeowners 0% interest loans to repair or replace these systems. This is a smart program that benefits both homeowners and the environment.”

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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