LOAN REPAYMENTS and COVID-19

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

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.