Failing Septic Tanks: DEQ providing ‘affordable’ loans for fix, replacements | News

An affordable loan program is again available for Oregon homeowners and small businesses to repair or replace failed sewage treatment plants.



Loan program

The affordable loan program offers homeowners flexible financing to repair or replace their failed sewage treatment plant.



Repairing or replacing faulty wastewater treatment plants benefits Oregonians by protecting public health and addressing water quality threats, the Oregon Department of Environmental Quality (DEQ) said in a press release.

The DEQ and regional nonprofit lender Craft3 are working together to make Craft3’s Clean Water Loans available across the state. Oregon legislature approved $ 2 million for the program in its final session, and Craft3 began accepting loan applications on November 1, 2021.

“By helping those struggling to repair failing wastewater treatment plants, we can not only prevent damage to homes and property, but also improve public health outcomes for all Oregonians,” said Oregon MP Ken Helm.

The affordable loan program offers homeowners flexible financing to repair or replace their failed sewage treatment plant. The program is also available to many small businesses that use sewage treatment plants, such as restaurants, grocery stores, and small prefabricated houses or RV parks.

Properly functioning wastewater treatment plants treat wastewater to minimize pollution of ground and surface water. A malfunctioning system can cause wastewater to spill onto the ground or into waterways, creating a health hazard and damaging natural resources.

These affordable loans not only cover all eligible costs for approval, planning and installation, but also provide ongoing maintenance when needed. The loans have variable low interest rates based on the income of the borrowers and are designed to be accessible to borrowers who may not have perfect creditworthiness.

Oregon legislature set up the program in 2016 (ORS 454,770), and DEQ has partnered with Craft3 to manage these loans from 2016 to 2020. Funds for this popular program ran out in 2020 and Craft3 stopped accepting loan applications in Oregon in June 2020. The new funding will resume the program this month.

Prior to the Oregon break, Craft3 provided more than $ 3.6 million in loans to 187 Oregon residents and small business owners to upgrade or install wastewater treatment plants with prior legislative funding. Loan recipients were in 92 cities and 28 of Oregon’s 36 counties. Of the total number of loans taken out, 32% of households had a low income or 80% of the region’s median income.

Oregon residents interested in learning more about the program and applying to apply can do so at Craft3.org/CleanWaterOre.

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