Industrial Finance Program

Large industrial water treatment and boiler room. Piping, flanges, butterfly valves, rusty and corroded bolts

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Low-cost financings for eligible businesses

The Industrial Finance Program (IFP) provides low-cost financings to businesses for projects related to waste management, pollution control, drinking water, wastewater and solid waste facility improvements, and environmental regulation compliance.

Financing Information

The minimum amount of an IFP financing is approximately $10 million. There is usually no maximum limit. The financing is subject to certain federal and state law requirements and approvals, including obtaining a state tax-exempt bond volume cap. IFP bonds may be amortized for a term of up to 40 years, depending on the useful life of the facilities that are financed and other factors.

EFC offers this funding opportunity through special obligation revenue bonds. These bonds are not obligations of the State of New York or any political subdivision thereof, and are only limited obligations of EFC.

Qualifying for Tax Exempt Status

Projects that have a public health benefit may qualify for tax exempt status if 95% or more of the net proceeds are used to fund eligible facilities. Depending on the particular facilities financed, the interest on these bonds is generally exempt from federal, state and local income taxes, thereby resulting in lower interest rates for the borrower.

Eligible Facilities

Sewage Treatment Facilities


Solid Waste Disposal Facilities


Resource Recovery Facilities


Water Management and Water Supply Facilities


Industrial Hazardous Waste Treatment Facilities

Eligible Costs

Project design and engineering


Purchase of land and appurtenant facilities


Construction or acquisition of project facilities


Equipment purchase and installation


Legal fees and other capital costs