RRIF Express
Expedited, Low-Cost Loans for Short Line & Regional Railroads
RRIF Express aims to reduce the time and costs associated with securing loans to modernize aging freight rail infrastructure.
View the Notice of Funding Opportunity (NOFO) issued June 1, 2023
The Build America Bureau recently released a Notice of Funding Opportunity (NOFO) for $25 million for the RRIF Express Pilot Program (RRIF Express) and expands the ability of eligible borrowers to access funds by removing the caps on Cost Assistance for advisor fees and Credit Risk Premium (CRP) Assistance. The NOFO assistance is reserved for commuter, short line and regional railroads until the sunset date of December 1, 2023. Following the sunset date, this NOFO will expire, and all benefits made available in this Notice will become available to any eligible RRIF borrower, consistent with existing law.
Please email us at BuildAmerica@dot.gov with any questions.
Program Benefits:
- DOT pays Credit Risk Premium
- Expedited Processing
- Advisory fee assistance
- Up to 35-year term
Eligible Borrowers
- Class II & III Railroads
- Commuter Railroads
- Joint Ventures
Eligible Projects
- Total project cost up to $150m
- Track improvement
- Bridge rehabilitation
- Rolling stock acquisition
- Planning and design
- Refinancing otherwise eligible debt (up to 75 percent)
Got questions? We're happy to answer them:
Will Resch
Project Development Lead
Will.Resch@dot.gov
202-366-2300
