Venango County Infrastructure Bank Fiscal Year 2023-2024 Program will be opening in January 2023.
The Venango County Infrastructure Bank (VCIB) Program is a reduced interest rate infrastructure loan program exclusively benefiting municipalities in Venango County in an effort to help mitigate the cost of water, sewer, stormwater, road, bridge, and other critical facilities projects.
Funding Terms & Interest Rate Subsidy
Eligible applicants may be awarded financing at a fixed reduced interest rate for the 10-year term equal to a 1.5% interest rate subsidy on the financing secured by the County. The official loan and payment terms will be determined following the issuance of County financing.
The following entities based in Venango County may apply for VCIB loans:
- Municipal Authorities (may require credit support from a local government unit)
Note: School districts, redevelopment and economic development entities and private non-profit organizations may be beneficiaries of BCIB funding through cooperation with an eligible applicant but are not permitted to apply directly to the BCIB Program at this time.