What does GEFA look for when evaluating an application?
GEFA looks at the ability to comfortably repay the loan and environmental acceptability as determined by EPD. GEFA’s financial review focuses on the cash flows of the fund selected to repayment the loan. The primary repayment source of a water or sewer loan should be the community’s Water or Sewer Enterprise Fund. GEFA also reviews the applicant’s water and sewer rate structure to determine if user rates are set at a level which can sustain the enterprise fund and when those rates were last increased.
