Ohio Water Development Authority - Serving Ohio Since 1968

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Interest Rates


05/1/2021 - 05/31/2021

OWDA Market Rate Program

Loan Terms 5 to 20 Years:  2.00%
Loan Terms 21 to 30 Years:  2.20%

Community Assistance

Loan Terms 5 to 20 Years:  0.50%
Loan Terms 21 to 30 Years:  0.75%

Loan Advance Program

Loan Term up to 3 Years: 1.61%


Loan Terms 5 to 20 Years
Standard Rate: 0.75%
WPCLF Small Systems:  0.38%
DWAF Small Systems:  0.25%

Loan Terms 21 to 30 Years
Standard Rate:  0.90%
WPCLF Small Systems:  0.45%
DWAF Small Systems:  0.40%

Loan Terms 31 to 45 Years *
Standard Rate:  1.05%
WPCLF Small Systems:  0.55%

* Applies to WPCLF Program only.

Refinance Rates

Estimated as of April 30th, 2021*
10 Year Term Tax-Exempt: 0.73%
20 Year Term Tax-Exempt: 1.36%
30 Year Term Tax-Exempt: 1.83%

10 Year Term Taxable: 1.26%
20 Year Term Taxable: 2.35%
30 Year Term Taxable: 2.77%

* Rates are based on the market rate as of the date listed and using the weighted average maturity (“WAM”) for each loan term. Based upon an assumed level payment amortization, a 10-year loan is estimated to have a WAM of 5 years, a 20-year loan a WAM of 11 years and a 30-year loan a WAM of 16 years.

Loan Application Deadline

Construction and Planning Loan applications are due the 1st of each month, except for November (no meeting) and December. 

Refinance loan applications are accepted on open cycle.  



Refinance Logo On January 28, 2021, the Ohio Water Development Authority Board approved the program guidelines for the Fresh Water Refinance Loan Program. Through this program, OWDA can refinance the debt for drinking water, wastewater, and storm water projects. Fresh Water Program loans, Water Pollution Control Loan Program loans, and the Drinking Water Assistance Fund Program loans are not eligible for this program. Click here for additional information.


We understand the difficulties the current COVID-19 crisis has created. The disruption of our day-to-day lives and the economic upheaval resulting from efforts to slow the impact of the virus are forcing everyone to make tough decisions. It is, however, important to remember when you are making choices regarding your loan repayments, that we at the Ohio Water Development Authority are also required to make repayments, which relate to outstanding bonds that were originally issued to provide the funds that allowed us to deliver efficient and low cost loans.

The Authority relies on the loan repayments from our borrowers to make these bond payments, and we are unable to skip or defer any such payments. Again, we understand and are fighting against the same economic realities that are confronting us all during this crisis, but we wanted to take this opportunity to explain how important it is to the Authority that you stay current with your loan repayments.

Together, we will be able to navigate the difficult path ahead. We want to assure you that we will still be able to continue to offer local governments in the State of Ohio, the low interest rate loans that we have offered you for over 50 years. Thank you for your understanding.

NOTICE: Update to Disbursement Procedures-Electronic Submissions

In response to concerns relating to COVID-19, the Ohio Water Development Authority is strongly recommending electronic submission of disbursement/fund payment requests. Please follow these guidelines:

  • Each disbursement request should be submitted as a single PDF attached to an email sent to disbursements@owda.org
  • The subject line of the email should include the 4-digit account number
  • Specific OWDA staff should not be cc'd: on submission emails
  • Submissions must be in PDF format. Word, Excel, etc. documents will not be accepted
  • Hard copies should not be mailed for disbursement requests submitted electronically
  • The first page of the disbursement request should be a completed and signed Fund Payment Request form
  • Supporting documentation should follow the Fund Payment Request form for each disbursement request
Electronic submission is highly recommended to ensure timely processing. Payment requests may still be mailed as hard copies via U.S. Postal Service (FedEx, UPS, etc. should not be used during this time) but payment may experience significant delays. Please mail to:

480 South High Street
Columbus, OH 43215

Loan Application Submission

The OWDA staff is working remotely to perform all operations of the Authority. Please follow normal procedures to submit a loan application for approval.

Governing Body

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Mike DeWine


James V. Stewart


Ken J. Heigel, P.E.

Executive Director

Board Members

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Contact Us

480 South High Street
Columbus, Ohio 43215

614-466-5822 (Main)
614-644-9964 (Fax)
614-448-3367 (HR Fax)
877-OWDA-123 (Toll Free)


Board Meetings:

The next scheduled Board Meeting is Thursday, May 27, 2021 at 10:30 a.m. at the Ohio Water Development Authority, 480 South High Street, Columbus, Ohio. 

Ohio Rural Community Assistance Program (RCAP) Seminars.

Click here for full seminar schedule of topics, dates and times.


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Audited Financial Statement

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