The Safeguarding Tomorrow through Ongoing Risk Mitigation Revolving Loan Fund (Safeguarding Tomorrow RLF) will enable eligible entities to create a revolving loan fund for hazard mitigation projects, cost match, nature-based solutions, upfront project design costs, or for smaller projects that may not qualify for other Hazard Mitigation Assistance Grant Programs.
A revolving loan fund (RLF) is a funding mechanism where loans are issued from the administering entity to eligible recipients for a project, and then after the project is completed, the loans are repaid to the loan fund with interest.
FEMA provides funding to states and tribal governments via a capitalization grant. The participating state, territorial, or tribal government deposits an amount that is at least 10% of the capitalization grant into an established entity loan fund.
- The entity loan fund provides assistance to local governments to expedite eligible mitigation activities in their communities with greater flexibility and autonomy.
- The lender entity is responsible for monitoring project progress and loan repayment from local communities.
- As local governments repay loans, these funds can be utilized for new loans.
FEMA will monitor the use of funding through reporting mechanisms and audits.