Biden-Harris Administration announces $150 Million to help underserved communities receive low-interest loans for resilience projects

WASHINGTON, December 19, 2023 -- As FEMA launches 2024 as its “Year of Resilience,” the agency is announcing the second funding opportunity for the Safeguarding Tomorrow Revolving Loan Fund (RLF) grant program to make communities safer from natural hazards.

This program, funded by the Bipartisan Infrastructure Law, provides capitalization grants to eligible applicants nationwide. Applicants then offer low-interest loans directly to local communities to reduce their vulnerability to disasters, promote equity, foster greater community resilience, and reduce disaster impacts. Due to the high level of interest in the first opportunity, the Biden-Harris Administration has tripled the amount of money available in this round of funding to $150 million.

“We listened to our emergency management partners from across the nation and using their guidance, fine-tuned this new program and increased the funding to allow for more under-resourced communities to benefit from this opportunity,” said FEMA Administrator Deanne Criswell. “Thanks to President Biden’s Investing in America agenda, these low-interest loans will fund even more mitigation projects at the local level, increasing our nation’s resilience to natural hazards and climate change.”

With a goal of removing barriers and increasing equitable access to this important source of funding, FEMA used feedback received during the first funding opportunity to streamline the application process. The agency also simplified materials -- all available on FEMA.gov -- to ensure that eligible applicants better understand how to submit information.