Historically, TIFIA has been a useful tool for large, complex transportation infrastructure projects that needed low-cost financing. TIFIA is a flexible tool that allows borrowers to customize their loan terms and amortization. However, this flexibility can prolong the application process due to the custom negotiations the Bureau and its advisors undertake with each borrower.

With TIFIA Lite, experienced borrowers with strong credit and small, shovel-ready projects can access an expedited application process. By agreeing to use a loan template with standard terms and forgoing the typical negotiation process, borrowers can access the traditional benefits of TIFIA (low interest rate, payment deferral up to five years, no pre-payment penalties, etc.) with a shorter review process. Projects eligible for TIFIA Lite can be approved up to six months faster than an average TIFIA application. Eligible projects can receive up to a $100 million loan.