Resilient MD Revolving Loans
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The Resilient Maryland Revolving Loan Fund (RLF) is a program that offers
low-interest loans (no more than 1%) to local governments to help finance projects and activities that
mitigate the effects of natural hazards.
Local governments can take out RLF loans on behalf of:
- Homeowners
- Businesses
- Nonprofit organizations
- Communities
What can I fund with an RLF Loan?
Primarily, RLF funds are used for increasing resilience and mitigating the effects of disasters, including (but not limited to):
- Floods
- Snowstorms
- Tornadoes
- Extreme heat
- Severe storms & storm surges
- High water levels and/or shoreline erosion
- Drought
- Wildfires
- Earthquakes
However, they may also be used to finance:
- Low-impact development
- Wildland-urban interface management
- Conservation areas
- Reconnection of floodplain & open space projects
- Building code adoption
- Zoning & land use planning
-
Satisfying a local government's non-federal cost share requirement for hazard mitigation grants (e.g., Hazard Mitigation Grant Program [HMGP], Flood Mitigation Assistance [FMA], or Building Resilient Infrastructure and Communities [BRIC] programs)
Why should I consider an RLF Loan?
There is a wide assortment of available funding in the world of emergency management, but unlike many others, RLF loans stand out because:
- A presidential disaster declaration is not required in order to be eligible for the loan.
- Participation in the National Flood Insurance Program is not required, either!
- They can be put towards the non-federal cost share of hazard mitigation grants, expanding the ability of communities to access even larger funding sources.
- They're designed to be accessible to Maryland's underserved communities. (We have a goal that at least 40% of the loans will go to underserved recipients.)
- They prioritize access to mitigation projects, which have been shown to save $6 in future recovery costs for every $1 spent on them, on average.
I still have questions - who should I contact?
If you're interested in the Revolving Loan Fund and want to learn more about it, the application process, or any other aspect of the program, you can contact us here:
resilientloan.mdem@maryland.gov
And if you're interested in applying, don't forget to let us know about your interest in an RLF loan here.
Where Does the Money Come From?