State Infrastructure Bank (SIB) application process
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State Infrastructure Bank (SIB) application process

Status: We are currently accepting applications.

Below are the types of SIB loan applications that we accept. Please fill out all items in the SIB loan application. If you have questions about anything on the application, please call 512-463-9958 or email Texas SIB.

Additional application documents can be found on the General Information page.

First-come, first-served application

A SIB loan application under $10 million for work necessary for a TxDOT project is exempt from the program call, and each application will be reviewed on a first-come, first-served basis. One Commission approval will be required after final loan terms are negotiated.

Program call application

A SIB loan application for a non-TxDOT project or SIB loan over $10 million will be prioritized against other applications in a Program Call, if funds in the program are limited. Two Commission approvals may be required:

  • Prioritization and preliminary approval of complete applications
  • Final approval of loan terms after negotiations are completed

For a list of prioritization considerations, please see §6.32(c)(1) of the SIB Rules.

Program call

  • Status: Open
  • Application deadline: Last Monday of every month. Applications can be submitted at any time prior.
  • Available funds: $50 million

Interest rate information

General information

The SIB uses the Municipal Market Index (MMD) to set interest rates. This index is updated weekly.

  • Rates are set at the time we receive a completed application.
    • The rate will be reset if the loan does not go before the Texas Transportation Commission within 12 months.
  • Rate is determined based on the current credit rating of the borrower and the term of the loan
    • The SIB team will use the AAA MMD scale for the term requested for the week of the application.
    • A small premium will be applied based on the credit rating and requested term of the loan
  • Credit rating not required to borrow.
  • Fixed rate for the life of the loan.

New SIB Rating Scale*

Rating 1-10 Years
11+ Years
AA AAA +05 bps AAA +10 bps
A AAA +10 bps AAA +20 bps
BAA AAA +15 bps AAA +30 bps
BBB-/Not Rated AAA +20 bps AAA +40 bps

*SIB will now use the AAA MMD rate as a baseline and add a small premium based on credit rating/term.

Current interest rate discounts

Economically Disadvantaged County Program (EDC)

  • Current list
  • Available to any entity residing in an economically disadvantaged county.
  • Rate reduced in basis points based on the adjustment percentage listed. See the example below.

An A rated borrower with an 80% EDC adjustment applies for a 15- year loan.

AAA interest rate*: 3.75%
Rate spread +.20
EDC reduction -0.80%
Final rate 3.15%

* AAA interest rate and rate spread is provided as an example. Rates update weekly and are based on the requested term of the loan.

More information on the economically disadvantaged county program can be found here.

SIB funds

Limitations on available SIB funds Current limit
Per project $56 million
Per borrower $113 million
Total of all loans paid with project revenues $283 million