NYS Environmental Facilities Corporation

What NYS Environmental Facilities Corporation does

The New York State Environmental Facilities Corporation (EFC) is a public benefit corporation established in 1987 that functions as New York's water infrastructure bank. Headquartered in Albany with approximately 115 employees, EFC administers the Clean Water State Revolving Fund and the Drinking Water State Revolving Fund (jointly with the NYS Department of Health), providing low-interest, subsidized, and interest-free financing to municipalities, school districts, public benefit corporations, Indian nations, and eligible businesses for wastewater, sewer, and drinking water infrastructure projects. The organization supplements its revolving fund financing with a portfolio of competitive grant programs including Water Infrastructure Improvement & Intermunicipal Grants, Green Resiliency Grants, Green Innovation Grants, Septic System Replacement Fund, Clean Vessel Assistance Program, SECURE Cybersecurity Grants, and Emergency Financial Assistance.

EFC's underlying technology is a water infrastructure financing and grant administration platform backed by an online application portal (portal.efc.ny.gov) and the Project Impact Dashboard, which provides interactive mapping of funded projects over the past five years. The organization's defining financial architecture is a self-sustaining revolving fund structure: as communities repay financings, capital returns to the fund and finances new projects. EFC leverages its AAA/Aaa credit rating to issue municipal bonds at rates lower than municipalities could obtain independently, then on-lends proceeds at subsidized rates — a 50% subsidy on market rates for clean water projects and 33 1/3% for drinking water, with interest-free terms available for hardship-qualified communities.

EFC operates exclusively within New York State and generates no commercial revenue; it is funded through a combination of state and federal appropriations, bond issuance proceeds, and revolving loan repayments. Capital deployment reached $3.8 billion in SFY 2025, a 55% year-over-year increase driven by federal Infrastructure Investment and Jobs Act inflows. Community Assistance Teams provide on-site and virtual consulting to municipalities throughout the project lifecycle, from planning and application through construction completion, supported by a multi-channel outreach program across web, email, social media, and regional events.

Name

NYS Environmental Facilities Corporation

Legal name

New York State Environmental Facilities Corporation

Website

https://efc.ny.gov

Company type

Private

Founded year

1987

Operating status

Operating

Headcount range

101–250 employees

Short description

The New York State Environmental Facilities Corporation (EFC) is a state public benefit corporation that provides low-interest financing, grants, and technical assistance to New York municipalities for water and wastewater infrastructure projects, leveraging its AAA/Aaa credit rating and revolving fund structure.

Ownership category

akta.pro rank

Product category

Water Infrastructure Financing

NAICS

Water Supply and Irrigation Systems (22131)

SIC

Water Supply (4941), Electric, Gas & Sanitary Services (4900)

akta.pro primary industry

Water Supply & Wastewater Utilities Administration (BPAIACAG)

akta.pro secondary industry

Capital Planning, Portfolio Prioritization & Funding (EUANALAB)

Keywords

• Water infrastructure financing
• State revolving fund administration
• Municipal grant programs
• Low-interest public financing
• Wastewater and drinking water projects

Headquarters

HQ city

Albany

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Clean Water State Revolving Fund: Provides low-interest financing for wastewater and sewer projects. The program is self-sustaining - when communities repay their financings, EFC can finance new projects. Funds 'revolve' over time. Offers interest-free financing for hardship communities and additional subsidy as principal forgiveness or grants.
2. Drinking Water State Revolving Fund: Jointly administered with NYS Department of Health. Provides below-market rate financing for drinking water projects. Jointly administered with DOH which provides regulatory review of design plans. Self-sustaining revolving fund structure.
3. State Water Grants: Competitive grants to help municipalities undertake critical wastewater and drinking water infrastructure projects. Governor Hochul committed $425 million for the 2026 round as part of a $3.75 billion commitment.
4. Municipal Bond Issuance: EFC leverages its high credit rating (AAA/Aaa) and market demand for tax-exempt bonds to provide capital for wastewater and drinking water projects. Refunding bond sales help municipal partners recognize savings on existing bonds.
5. Emergency Financial Assistance: Provides expedited funds for emergency repairs to wastewater and drinking water systems that pose hazards to public health, welfare or environment. Repaid within one year.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels8 records

Core offering

EFC is New York State's Water Infrastructure Bank, providing low-interest financing and grants to municipalities, school districts, tribal nations, and eligible businesses for wastewater, drinking water, and stormwater infrastructure projects. Its core offerings are the Clean Water State Revolving Fund and Drinking Water State Revolving Fund, which deliver below-market rate financing backed by its AAA/Aaa credit rating and a self-sustaining revolving structure, complemented by State Water Grants, Emergency Financial Assistance, and specialty grant programs for green infrastructure, cybersecurity, and septic replacement.

Product overview

NYS Environmental Facilities Corporation operates as a platform of water infrastructure financing and grant programs. The core offerings include the Clean Water State Revolving Fund and Drinking Water State Revolving Fund for low-interest financing, supplemented by competitive grant programs including Water Infrastructure Improvement & Intermunicipal Grants, Green Resiliency Grants, Green Innovation Grant Program, Septic System Replacement Fund, and Clean Vessel Assistance Program. Additional services include Emergency Financial Assistance for urgent needs, the Industrial Finance Program for eligible businesses, and Wastewater Infrastructure Engineering Planning Grants. The organization provides support through Community Assistance Teams offering consultations and technical guidance, a Cybersecurity Hub with assessment and implementation grants, and a Project Impact Dashboard for transparency on funded projects. Together these programs form an integrated suite helping New York municipalities affordably undertake critical water quality infrastructure projects.

Differentiator

Problem solved

Functional benefit

Brands

• Clean Water State Revolving Fund: Low-interest financing program for wastewater and sewer projects
• Drinking Water State Revolving Fund
• State Water Grants
• Green Resiliency Grants
• Green Innovation Grant Program
• SECURE Grant Program
• Clean Vessel Assistance Program
• Septic System Replacement Fund

Products and services

• Clean Water State Revolving Fund (CWSRF) Low-interest financing program for wastewater and sewer projects offered to municipalities and other eligible borrowers. Financing options include interest-free hardship terms, a 50% market-rate subsidy, and AAA-rated market rates generally lower than municipalities can obtain independently, with terms up to 30 years and self-sustaining revolving fund structure.
• Drinking Water State Revolving Fund (DWSRF) Below-market rate financing for drinking water projects including treatment facilities, transmission mains, storage facilities, and source protection. Jointly administered with the NYS Department of Health, which provides regulatory review of design plans, with a 33 1/3% market-rate subsidy and self-sustaining revolving fund structure.
• Water Infrastructure Improvement & Intermunicipal Grants (WIIA/IMG) Competitive grants for municipalities to undertake critical wastewater and drinking water infrastructure projects, including funding for lead service line replacement and emerging contaminant compliance. Governor Hochul committed $425 million for the 2026 round as part of a $3.75 billion commitment.
• Green Resiliency Grants Grants funded by the Clean Water, Clean Air, and Green Jobs Environmental Bond Act of 2022 to help flood-prone communities implement transformative stormwater management projects. Includes a $60M inaugural grant for the Van Cortlandt Park resiliency project in the Bronx.
• Green Innovation Grant Program Competitive grants supporting EPA-designated green stormwater infrastructure projects including green infrastructure, energy efficiency, and water efficiency practices. Targeted at small, rural, and disadvantaged communities with enhanced grant rates.
• SECURE Grant Program (Cybersecurity Hub) Cybersecurity grants providing up to $50,000 for assessments and up to $100,000 for implementation, plus no-cost technical assistance and training for water and wastewater systems. References EPA Water Sector Cybersecurity Evaluation Program and Center for Internet Security Controls.
• Wastewater Infrastructure Engineering Planning Grants Grants supporting engineering planning costs for wastewater infrastructure projects, helping communities prepare for larger construction financing applications. Application periods open periodically.
• Septic System Replacement Fund Program administered through participating counties to help homeowners replace cesspools and septic systems adversely impacting designated waterbodies, focusing on water quality improvement. Coordinated with the Suffolk County Septic Improvement Program, Nassau County Septic Environmental Program, and Catskill Watershed Corporation.
• Clean Vessel Assistance Program (CVAP) Federally-funded reimbursement grants to marinas for installation, renovation, and replacement of pumpout stations for recreational boater septic waste removal and disposal. Funded through the US Fish and Wildlife Service Sport Fish Restoration fund.
• Emergency Financial Assistance Expedited financial assistance for wastewater and drinking water emergencies posing hazards to public health, welfare, or environment. Decisions are made within two business days of DEC or DOH determination and amounts are repaid within one year. Available to municipalities, school districts, and recognized Indian nations or tribes.
• Industrial Finance Program Low-cost financing for eligible businesses for waste management, pollution control, drinking water, wastewater, and solid waste facility improvements delivered through tax-exempt special obligation revenue bonds.
• Community Assistance Teams On-site and virtual consultation service helping communities plan water infrastructure projects, submit funding applications, and navigate state and federal requirements. Includes new cybersecurity support offerings. Available to municipalities throughout New York State.
• Project Impact Dashboard Interactive public dashboard showing communities that have benefited from EFC's funding over the past five years, displaying closed funding agreements and completed construction projects with filterable views by funding type and environmental justice indicators.

Quantifiable outcome

• $49.8 billion in financial assistance provided to communities since 1987
• +4 more outcomes

Named customers9 records

Segments8 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered core and minor.

• New York State Department of Health (DOH)coreStrategic or Co-development PartnerJointly administers the Drinking Water State Revolving Fund with EFC. DOH provides regulatory review of design plans and specifications for drinking water projects, while EFC handles financial and legal aspects. DOH also prepares the Drinking Water Intended Use Plan and determines hardship status for drinking water projects.
• New York State Department of Environmental Conservation (DEC)coreStrategic or Co-development PartnerDEC determines emergencies for EFC's Emergency Financial Assistance program and provides watershed management guidance. EFC coordinates with DEC to determine eligible waterbodies for the Septic System Replacement Fund. DEC determines priority geographic areas for septic system funding based on water quality impairment data.
• Department of StateminorStrategic or Co-development PartnerPartner agency providing additional grant opportunities including Appalachian Regional Commission grants, Community Development Block Grants, and Local Government Efficiency Program.
• Homes and Community RenewalminorStrategic or Co-development PartnerPartner agency providing Community Development Block Grants and Local Government Efficiency Program for intermunicipal projects.
• Suffolk County Septic Improvement ProgramminorStrategic or Co-development PartnerCounty program providing up to $10,000 base grant plus additional amounts for pressurized shallow drain field ($5,000) and low-to-moderate income applicants ($5,000). Also offers low interest loans through CDC of Long Island.
• Nassau County Septic Environmental ProgramminorStrategic or Co-development PartnerCounty program providing grant funding of up to $20,000 to repair and replace failing septic systems with nitrogen-reducing systems, using $10,000 federal ARPA funds combined with $10,000 State Septic System Replacement Grant funds.
• Catskill Watershed Corporation (CWC)minorStrategic or Co-development PartnerAdministers Septic Repair and Replacement Program for NYC West of Hudson Watershed covering parts of Delaware, Schoharie, Greene, Sullivan, and Ulster Counties. Reimburses full-time residents 100% and non-primary residents 60% for repairing or replacing ailing systems.

Scale indicators13 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Ohio EPA Division of Environmental and Financial Assistance: Ohio's division within the state EPA that administers Ohio's Water Pollution Control Loan Fund and Drinking Water Assistance Fund — performs the same SRF administration function as EFC for Ohio municipalities.
• Wisconsin Department of Natural Resources Environmental Loans Section: Wisconsin's DNR program that administers the Clean Water Fund and Safe Drinking Water Loan Programs — providing subsidized financing for municipal water infrastructure, comparable in mission and structure to EFC.
• Indiana Finance Authority: Indiana's state financing authority that administers the State's SRF programs for drinking water and wastewater infrastructure, issuing bonds and providing below-market financing to municipalities — comparable to EFC's role in New York.
• Massachusetts Clean Water Trust: Massachusetts' independent state authority that administers the SRF programs and issues bonds to provide subsidized financing for water infrastructure — comparable to EFC in scope, scale, and AAA-style capital access approach.
• Pennsylvania Infrastructure Investment Authority (PennVEST): Pennsylvania's state-level infrastructure financing authority that administers the state's Clean Water and Drinking Water State Revolving Funds, providing low-interest loans and grants to municipalities — directly analogous to EFC's core function in New York.
• Connecticut Department of Public Health Drinking Water Section: Connecticut's state agency that jointly administers the Drinking Water State Revolving Fund with the state's Department of Energy and Environmental Protection — performing a regulatory-plus-financing coordination function analogous to NYS DOH's role with EFC.
• New Jersey Infrastructure Bank: New Jersey's independent state financing authority that administers State Revolving Fund programs and provides low-interest loans and grants to municipalities for water infrastructure — directly comparable to EFC's function.
• California State Water Resources Control Board: California's water quality agency that administers one of the largest State Revolving Fund programs in the U.S., offering below-market financing and grants to municipalities for wastewater and drinking water infrastructure — directly comparable to EFC's mission and programs.
• Texas Water Development Board: Texas's state agency that administers Clean Water and Drinking Water State Revolving Funds, providing low-cost financing for water and wastewater infrastructure projects statewide — performing the same role as EFC in a different state.

Broad incumbents

• U.S. EPA Clean Water and Drinking Water State Revolving Fund Programs: The federal-level SRF program office that provides capitalization grants to state SRF administrators like EFC. As the umbrella program and ultimate federal funder, it is the broad incumbent that EFC's programs operate within.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/NYSEFC
• YouTubeyoutube.com/user/TheNYSEFC
• Facebookfacebook.com/NYSEFC
• Instagraminstagram.com/nys_efc
• LinkedInlinkedin.com/company/nysefc

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NYS Environmental Facilities Corporation