Deadline Extended for Short Line Loan Bids

The U.S. Department of Transportation has extended the deadline for submitting letters of interest in financing through the pilot Railroad Rehabilitation and Improvement Financing Express loan program.

The deadline had been Aug. 15 but has been extended by 60 days due to the COVID-19 pandemic. The original deadline had been June 15.

Administered by the Build America Bureau, RRIF Express is a pilot program meant to increase access to RRIF loans for short line and regional railroads seeking financing for infrastructure projects.

The application process is designed to be less time consuming and cost prohibitive for small railroads.

DOT Creates Grant Program for Short Line Railroads

The U.S. Department of Transportation has created a pilot program to speed up approval of long-term, low-cost loans for short-line and regional railroads.

In a news release, DOT said the Railroad Rehabilitation and Investment Financing Express program seeks to cut the time and costs associated with securing loans to modernize aging freight-rail infrastructure.

Also included in the initiative is up to $26 million in additional financial support.

DOT’s Build America Bureau will administer the program. Letters of interest will be accepted Jan. 12 through April 11, 2020.