Environmental Financial Advisory Board (EFAB) Advisory Reports
The Environmental Financial Advisory Board (EFAB) is a Federal Advisory Committee that provides advice and recommendations to EPA's Administrator and regional and program offices on ways to lower the costs of, and increase investments in, environmental and public health protection. This advice is provided in the form of consultations, advisory reports and letters.
Click on the Year-Month column header to see the most recent reports.
Year - Month |
Report | Program Area | EFAB Mission Area |
---|---|---|---|
2024 November |
Investment Tax Incentive for Water Reuse Infrastructure (pdf) | Water Reuse | Innovative Investment Models, Innovative/Cost-Effective Financing, Sustainability and Resiliency |
2024 August |
Letter to Administrator Regan on Helping Climate Capital to Land in Underserved Communities (pdf) | Air | Innovative/Cost-Effective Financing, Sustainability and Resiliency |
2023 January |
Air | Innovative/Cost-Effective Financing | |
2022 October |
Catalyzing Pollution Prevention Finance (pdf)
|
Pollution Prevention | Innovative Investment Models |
2022 October |
Opportunity Zones (pdf) (October 2022)
|
Smart Growth | Incentives for Private Investment, Innovative Investment Models |
2021 April |
Letter to EPA Administrator Regan (pdf) (235.67 KB) (April 2021) | EPA Cross-Media, Air, Stormwater | Innovative/Cost-Effective Financing, Sustainability and Resiliency |
2020 April |
Consultation on Financing and Governance Options for the Backhaul Alaska Program (April 2020)
|
Solid/Hazardous Waste | Innovative/Cost-Effective Financing, Small Community Financing, Sustainability and Resiliency |
2020 March |
Evaluating Stormwater Infrastructure Funding and Financing (March 2020)
|
State Revolving Funds, Stormwater | Innovative/Cost-Effective Financing, State and Local Capacity (including TMF), Sustainability and Resiliency |
2019 August |
Revenue Options for a Waste Backhaul Service Program in Rural Alaska (August 2019)
|
Solid/Hazardous Waste | Small Community Financing, State and Local Capacity (including TMF), Sustainability and Resiliency |
2019 June |
Funding for Pre-Disaster Resiliency (June 2019)
|
Stormwater | State and Local Capacity (including TMF), Sustainability and Resiliency |
2019 June |
A Decision-Maker's Guide to Alternative Service Delivery Options for Public Utility Projects (June 2019)
|
Drinking Water, Wastewater | Innovative/Cost-Effective Financing, Public Private Partnerships and Alternative Financing |
2019 April |
Funding Strategies to Promote System Regionalization (April 2019)
|
Affordability, Drinking Water, State Revolving Funds, Wastewater | State and Local Capacity (including TMF), Sustainability and Resiliency |
2018 November |
Illustrative Private Equity Capital Models for Chesapeake Bay TMDL Project Report (December 2018)
|
Watersheds/Ecosystems | Incentives for Private Investment, Innovative Investment Models |
2017 December |
Financing Strategies for Domestic Recycling Programs (PDF)(22 pp, 1.6 MB, December 2017, About PDF) | Solid/Hazardous Waste | Innovative Investment Models , Sustainability and Resiliency |
2017 November |
Funding Strategies for Decentralized Wastewater Systems (PDF) (28 pp, 2.1 MB, November 2017, About PDF) | Affordability, State Revolving Funds, Wastewater | Innovative/Cost-Effective Financing, Small Community Financing, Sustainability and Resiliency |
2017 October |
Financing Lead Risk Reduction (PDF) (81 pp, 1.6 MB, October 2017, About PDF) | Drinking Water, State Revolving Funds | Innovative Investment Models, Sustainability and Resiliency |
2017 June |
Infrastructure Investment Letter to the Administrator (June 2017)
|
Drinking Water, Wastewater | Public Private Partnerships and Alternative Financing, State and Local Capacity (including TMF) |
2017 February |
Green Infrastructure Operations & Maintenance Finance (February 2017) | Green Infrastructure | Innovative Investment Models, Public Private Partnerships and Alternative Financing, Sustainability and Resiliency |
2016 February |
Developing Dedicated Stormwater Revenues (PDF) (16 pp, 671 K, March 2016, About PDF) | Stormwater | State and Local Capacity (including TMF) |
2016 February |
Financial Capacity Development for Small Drinking/Wastewater Systems (PDF) (10 pp, 410 K, March 2016, About PDF) | Affordability, Drinking Water, Wastewater | Small Community Financing, State and Local Capacity (including TMF), Sustainability and Resiliency |
2016 February |
Household Affordability Challenges in the Water Sector (PDF) (16 pp, 792 K, March 2016, About PDF) | Affordability, Drinking Water, Wastewater | Sustainability and Resiliency |
2016 February |
Financing Pre-Development Activities in Communities (PDF) (8 pp, 506 K, March 2016, About PDF) | Drinking Water, Wastewater | Innovative/Cost-Effective Financing, State and Local Capacity (including TMF) |
2014 December |
Small Water Systems in Puerto Rico (December 2014)
|
Affordability, Drinking Water | Small Community Financing, State and Local Capacity (including TMF) |
2014 September |
Financial Capability Assessment Framework (September 2014)
|
Affordability, Stormwater, Wastewater | State and Local Capacity (including TMF), Sustainability and Resiliency |
2014 July |
Transit-Oriented Development (TOD) Report (July 2014)
|
Transportation/Smart Growth | Public Private Partnerships and Alternative Financing, Sustainability and Resiliency |
2014 January |
Utilizing SRF Funding for Green Infrastructure Projects (January 2014)
|
Green Infrastructure, State Revolving Funds | Innovative/Cost-Effective Financing, Innovative Investment Models |
2014 January |
Municipal Energy Efficiency and Greenhouse Gas Emissions Reduction: Financing and Implementing Energy Efficiency Retrofits in City-Owned Facilities (January 2014) | Energy Efficiency/Renewables | Innovative/Cost-Effective Financing, Small Community Financing, Sustainability and Resiliency |
2013 August |
Financing Tribal Environmental Programs (PDF) (14 pp, 4.4 MB, August 2013, About PDF) | International and Tribal Environmental Protection | Accounting and Disclosure Standards, Tribal Capacity |
2012 July |
Eliminating Barriers to Tribal Environmental Projects (PDF) (4 pp, 176 K, July 2012, About PDF)) | International and Tribal Environmental Protection | Tribal Capacity |
2012 January |
Financing Clean Air Technology Letter (PDF) (6 pp, 938 K, January 2012, About PDF) | Air | Incentives for Private Investment |
2011 May |
Voluntary Environmental Improvement Bond (VEIB) Programs: EFAB's response to FHFA report (PDF) (37 pp, 1.5 MB, May 2011, About PDF) | Energy Efficiency/Renewables, Green Infrastructure | Innovative/Cost-Effective Financing, Incentives for Private Investment, Innovative Investment Models |
2011 February |
SRF Investment Function: Current Status and Prospects for Enhancing SRF Sustainability (PDF) (196 pp, 4.6 MB, February 2011, About PDF) | State Revolving Funds | Innovative/Cost-Effective Financing, Innovative Investment Models |
2010 December |
Financial Assurance: Report on Improving Cost Estimation and Letter on the Use of Credit Ratings (PDF) (16 pp, 217 K, December 2010, About PDF) | Solid/Hazardous Waste | Innovative/Cost-Effective Financing |
2010 March |
Financial Assurance for Underground Carbon Sequestration Facilities (PDF) (10 pp, 355 K, March 2010, About PDF) | Drinking Water | Incentives for Private Investment, Innovative Investment Models |
2010 March |
Financing Mechanisms for Reducing Greenhouse Gas Emissions, and Other Air and Water Pollution Problems (PDF) (9 pp, 962 K, March 2010, About PDF) | Air, Energy Efficiency/Renewables | Innovative Investment Models, Sustainability and Resiliency |
2010 March |
Water Loss Reduction: Financing Mechanisms for Drinking Water Distribution Systems (PDF) (47 pp, 626 K, March 2010, About PDF) | Drinking Water, State Revolving Funds | Innovative/Cost-Effective Financing, Small Community Financing |
2010 February |
Financial Assurance: Commercial Insurance as a Financial Assurance Tool (PDF) (20 pp, 346 K, February 2010, About PDF) | Solid/Hazardous Waste | Innovative Investment Models |
2009 June |
VEIBs: An Innovative, Local, Environmental Finance Concept for Mitigating Air and Water Pollution (19 pp, 310 K, June 2009, About PDF) | Air, Energy Efficiency/Renewables, Watersheds/Ecosystems | Innovative Investment Models |
2009 June |
Financial, Underwriting, Risk Mitigation and Consumer Protection Considerations for the Adoption of VEIB Programs (19 pp, 310 K, June 2009, About PDF) | Air, Energy Efficiency/Renewables, Watersheds/Ecosystems | Innovative/Cost-Effective Financing, Incentives for Private Investment, Innovative Investment Models |
2008 August |
Public-Private Partnerships in the Provision of Water and Wastewater Services: The Canadian Experience (PDF) (12 pp, 460 K, August 2008, About PDF) | Drinking Water, International and Tribal Environmental Protection, Wastewater | Public Private Partnerships and Alternative Financing |
2008 August |
Relative Benefits of Direct and Leveraged Loan Approaches for State Revolving Fund (SRF) Programs (PDF) (54 pp, 1.2 MB, August 2008, About PDF) | State Revolving Funds | Innovative/Cost-Effective Financing |
2008 April |
Environmental Management Systems and the Use of Corporate Environmental Information by the Financial Community (PDF) (42 pp, 3.4 MB, April 2008, About PDF) | Environmental Information | Incentives for Private Investment |
2008 April |
Public Private Partnerships in the Provision of Water and Wastewater Services: Barriers and Incentives (PDF) (55 pp, 1.2 MB, April 2008, About PDF) |
Drinking Water, Wastewater | Incentives for Private Investment, Public Private Partnerships and Alternative Financing |
2007 November |
SmartWay Transport Program: Innovative Finance Programs for Air Pollution Reduction (PDF) (14 pp, 889 K, November 2017, About PDF) | Air, Transportation/Smart Growth | Incentives for Private Investment, Innovative Investment Models |
2007 May |
Combined Sewer Overflows - Guidance for Financial Capability Assessment and Schedule Development (PDF) (11 pp, 252 K, May 2007, About PDF) | Affordability, Stormwater, Wastewater | State and Local Capacity (including TMF) |
2007 April |
EFAB Supports EPA's Private Activity Bond Initiative (PDF) (2 pp, 107 K, April 2007, About PDF) | Drinking Water, Wastewater | Incentives for Private Investment |
2007 March |
The Use of Captive Insurance as a Financial Assurance Tool in Office of Solid Waste and Emergency Response Programs (PDF) (14 pp, 367 K, March 2007, About PDF) | Solid/Hazardous Waste | Incentives for Private Investment, Innovative Investment Models |
2007 January |
Sustainable Finance for Watersheds (PDF) (30 pp, 2.1 MB, January 2007, About PDF) | Watersheds/Ecosystems | Innovative Investment Models, Sustainability and Resiliency |
2007 January |
Expanding the Definition of State Revolving Fund Financial Assistance (PDF) (16 pp, 1.7 MB, January 2007, About PDF) | State Revolving Funds | Innovative Investment Models |
2006 May |
Establishment of a New State Revolving Fund Loan Guaranty Program (PDF) (6 pp, 716 K, May 2006, About PDF) | State Revolving Funds | Incentives for Private Investment, Innovative Investment Models |
2006 May |
Application of Useful Life Financing to State Revolving Funds (PDF) (11 pp, 1.4 MB, May 2006, About PDF) | State Revolving Funds | Innovative/Cost-Effective Financing |
2006 February |
Affordability Rate Design for Households (PDF) (11 pp, 1.4 MB, February 2006, About PDF) | Affordability, Drinking Water, Wastewater | State and Local Capacity (including TMF), Sustainability and Resiliency |
2006 January |
EFAB Initial Findings Concerning Use of the Financial Test and Corporate Guarantees to Meet Financial Assurance Requirements under RCRA Programs (PDF) (9 pp, 989 K, January 2006, About PDF) | Solid/Hazardous Waste | Innovative/Cost-Effective Financing |
2005 December |
Maryland's Bay Restoration Fund Act (PDF) (6 pp, 662 K, December 2005, About PDF) | Watersheds/Ecosystems | Innovative Investment Models |
2005 May |
Combined Operations of the Clean Water and Drinking Water State Revolving Loan Funds (May 2005) | State Revolving Funds | Innovative/Cost-Effective Financing |
2005 March |
Application of Innovative Finance Techniques in the Transportation Infrastructure & Financial Innovation Act (TIFIA) of 1998 to Environmental Finance Issues (PDF)(11 pp, 107 K, March 2005, About PDF) | Brownfields, Drinking Water, Wastewater | Small Community Financing, Innovative Investment Models |
2005 January |
Innovations in Watershed Financing Letter Report (January 2005) | Watersheds/Ecosystems | Innovative Investment Models |
2005 January |
Application of Useful Life Financing of Environmental Facilities (PDF) (16 pp, 243 K, January 2005, About PDF) | Affordability, Drinking Water, Wastewater | Innovative/Cost-Effective Financing |
2003 August |
Coordination of USEPA State Revolving Fund (SRF) and USDA Rural Utility Service (RUS) Water and Sewer Loan Assistance (PDF) (17 pp, 4.2 MB, August 2003, About PDF) | State Revolving Funds | Innovative/Cost-Effective Financing |
2003 July |
Government Accounting and Standards Board (GASB) Financial Reporting Standards (Statement No. 34): EFAB Workshop Summary (17 pp, 1.7 MB, July 2003, About PDF) | Drinking Water, Wastewater | Accounting and Disclosure Standards |
2003 July |
Report on Findings from EFAB's Environmental Management Systems Workshop (PDF) (33 pp, 2.8 MB, July 2003, About PDF) | Drinking Water, Wastewater | Innovative/Cost-Effective Financing, Incentives for Private Investment |
2003 February |
Protecting America's Land Legacy: Stewardship Policies, Tools, and Incentives to Protect and Restore America's Land Legacy (PDF) (29 pp, 158 K, February 2003, About PDF) | Watersheds/Ecosystems | Incentives for Private Investment |
2002 April |
Expanding Lending for Non-Point Source Projects (PDF) (12 pp, 850 K, April 2002, About PDF) | State Revolving Funds, Watersheds/Ecosystems | Innovative/Cost-Effective Financing, Innovative Investment Models |
2002 April |
Public Sector Initiatives to Increase Performance in the Water and Watershed Industry (PDF) (21 pp, 1 MB, April 2002, About PDF) | Drinking Water, Wastewater | Innovative/Cost-Effective Financing |
2002 March |
Update on Environmental Financial Advisory Board Brownfields Work (PDF) (6 pp, 211 K, March 2002, About PDF) | Brownfields | Incentives for Private Investment |
2001 December |
Comments on Proposed Small Business Innovation Research (SBIR) Program Solicitation (PDF) (4 pp, 159 K, December 2001, About PDF) | Affordability, Small Business, Stormwater, Wastewater | Innovative/Cost-Effective Financing |
2001 September |
Small Business Innovative Research (SBIR) Topic Suggestions (PDF) (2 pp, 105 K, September 2001, About PDF) | Small Business, Stormwater, Wastewater | Accounting and Disclosure Standards, Innovative/Cost-Effective Financing |
2001 September |
Conservation Savings Increment Loans: A Proposal Concerning the SRFs |
Energy Efficiency/Renewables, State Revolving Funds | Innovative Investment Models, State and Local Capacity (including TMF) |
2001 September |
Arbitrage Relief Would Increase Funds Available to Meet Critical Water and Sewer Funding Needs (PDF) (8 pp, 332 K, September 2001, About PDF) | Drinking Water, State Revolving Funds, Wastewater | Innovative/Cost-Effective Financing |
2001 July |
Private Sector Initiatives to Improve Efficiencies in Providing Public-Purpose Environmental Services (PDF) (22 pp, 1.4 MB, July 2001, About PDF) | Drinking Water, Wastewater | Innovative Investment Models, Public Private Partnerships and Alternative Financing |
2001 April |
Brownfields Tax Incentives (PDF)(4 pp, 148 K, April 2001, About PDF)
|
Brownfields | Incentives for Private Investment |
2000 December |
Environmental State Revolving Funds: Developing a Model to Expand the Scope of the SRF (PDF)(11 pp, 238 K, December 2000, About PDF) | State Revolving Funds | Innovative Investment Models, Sustainability and Resiliency |
2000 December |
Removing Barriers to Investment in Environmental Infrastructure in Western Europe (PDF) (15 pp, 1.1 MB, December 2000, About PDF) | International and Tribal Environmental Protection | Incentives for Private Investment |
2000 May |
Comments on Treasury Issue Paper: Financing Options for NADBank |
International and Tribal Environmental Protection | Innovative/Cost-Effective Financing |
2000 May |
Proposals Re: the EPA Office of Water's Gap Analysis |
Drinking Water, Wastewater | Accounting and Disclosure Standards |
2000 March |
Proposed Amendments to Brownfields Tax Incentives | Brownfields | Incentives for Private Investment |
2000 January |
Pace of Lending Issues Regarding SRFs |
Brownfields | Innovative/Cost-Effective Financing |
1999 July |
Financing Opportunities for the Clean Water Action Plan |
Stormwater, Watersheds/Ecosystems | Innovative/Cost-Effective Financing |
1999 June |
Ways the SRFs Could Assist the Better America Bonds Initiative | State Revolving Funds | Innovative/Cost-Effective Financing |
1999 June |
Cooperative International Environmental Bond Guaranty Fund Proposal (PDF) (3 pp, 265 K, June 1999, About PDF) | International and Tribal Environmental Protection | Innovative Investment Models |
1998 October |
Comments on the Brownfields Tax Incentive (PDF) (2 pp, 84 K, October 1998, About PDF) | Brownfields | Incentives for Private Investment |
1998 August |
Comments on OIA Draft Proposal for NIS Bond Guaranty Program |
International and Tribal Environmental Protection | Innovative Investment Models |
1998 July |
Funding Privately Owned Water Providers Through the Safe Drinking Water Act State Revolving Fund (PDF) (5 pp, 525 K, July 1998, About PDF) | Drinking Water, State Revolving Funds | Innovative/Cost-Effective Financing |
1998 January |
State Revolving Fund: A Decade of Successful SRF Performance, 1987-1997 (PDF) (13 pp, 2.3 MB, January 1998, About PDF) | State Revolving Funds | Innovative/Cost-Effective Financing |
1998 January |
Cost-Effective Environmental Management Case Studies (PDF) (84 pp, 3.7 MB, January 1998, About PDF) | Drinking Water, Wastewater | Innovative/Cost-Effective Financing, Public Private Partnerships and Alternative Financing |
1997 December |
Application of Cross-Collateralization Language to Various SRF Structures |
State Revolving Funds | Innovative/Cost-Effective Financing |
1997 December |
Expediting Clean-Up & Redevelopment of Brownfields: Addressing the Major Barriers to Private Sector Involvement (PDF) (24 pp, 2 MB, December 1997, About PDF) | Brownfields | Incentives for Private Investment, Innovative/Cost-Effective Financing |
1997 December |
Why Longer Term Loans are Prudent for SRFs (PDF) (5 pp, 1.2 MB, December 1997, About PDF) | Affordability, State Revolving Funds | Innovative/Cost-Effective Financing |
1997 July |
Improving Small Business Access to Capital for Environmental Projects Letter |
Small Business | Innovative/Cost-Effective Financing |
1997 June |
Follow-up Letter Regarding Cross-Collateralization |
Drinking Water, State Revolving Funds | Innovative/Cost-Effective Financing |
1997 March |
Recommendations Letter Based on EFAB's Five Brownfields Reports |
Brownfields | Incentives for Private Investment, Innovative/Cost-Effective Financing |
1997 February |
Evaluation of the Transferability Provisions in SDWA as a Means for Cross-Collateralization | Drinking Water, State Revolving Funds | Innovative/Cost-Effective Financing |
1997 February |
Barriers and Incentives to Financing Brownfields Cleanup and Reuse (Brownfields Report No. 5) (PDF) (20 pp, 1.6 MB, February 1997, About PDF) | Brownfields | Incentives for Private Investment, Innovative/Cost-Effective Financing |
1996 November |
Cross-Collateralization Issues Affecting the SRF Program (PDF) (8 pp, 1.2 MB, November 1996, About PDF) | Drinking Water, State Revolving Funds | Innovative/Cost-Effective Financing |
1996 March |
Leveraging the Superfund |
Solid/Hazardous Waste | Innovative/Cost-Effective Financing |
1996 March |
Innovations in Watershed Financing |
Watersheds/Ecosystems | Innovative/Cost-Effective Financing |
1996 March |
Financing Brownfields Redevelopment (Workshop Summary) (Brownfields Report No. 4) (PDF) (30 pp, 1.9 MB, March 1996, About PDF) | Brownfields | Incentives for Private Investment, Innovative/Cost-Effective Financing, Innovative Investment Models |
1996 March |
Financing Strategies for Brownfields Redevelopment (Brownfields Report No. 3) (PDF) (33 pp, 3.9 MB, March 1996, About PDF) | Brownfields | Incentives for Private Investment, Innovative/Cost-Effective Financing, Innovative Investment Models |
1996 March |
Financing Brownfields Redevelopment: Linkages to the Empowerment Zone/Enterprise Community Program (Brownfields Report No. 2) (PDF )(40 pp, 4.4 MB, March 1996, About PDF) | Brownfields | Innovative Investment Models , Incentives for Private Investment, Innovative/Cost-Effective Financing |
1995 September |
Information Needs of Capital Providers in Brownfields Redevelopment (Brownfields Report No. 1) (PDF) (19 pp, 2.3 MB, September 1995, About PDF) | Brownfields | Incentives for Private Investment, Innovative/Cost-Effective Financing |
1995 September |
Increasing Flexibility for Financing the Cleanup of Contaminated Sites (PDF) (11 pp, 1.1 MB, September 1995, About PDF) | Brownfields | Innovative Investment Models |
1994 August |
Creating a Viable Finance Program for the Border Environmental Cooperation Commission and the North American Development Bank under NAFTA (PDF) (11 pp, 1 MB, August 1994, About PDF) | International and Tribal Environmental Protection | Innovative Investment Models , State and Local Capacity (including TMF), Innovative/Cost-Effective Financing |
1994 April |
Implementing the Environmental Finance Aspects of NAFTA (PDF) (10 pp, 864 K, April 1994, About PDF) | International and Tribal Environmental Protection | Incentives for Private Investment |
1994 April |
Financing the Remediation of Hazardous Waste Sites under NAFTA (PDF) (13 pp, 1.2 MB, April 1994, About PDF) | International and Tribal Environmental Protection, Solid/Hazardous Waste | Innovative Investment Models , Incentives for Private Investment |
1993 July |
Financing Environmental Infrastructure Along the United States-Mexican Border and in Eastern Europe and the Former Soviet Republics (PDF) (15 pp, 2 MB, July 1993, About PDF) | International and Tribal Environmental Protection | Innovative Investment Models , Incentives for Private Investment, Innovative/Cost-Effective Financing |
1993 March |
Urban Environmental Policy: Steps Toward Environmental Equity, Reduced Environmental and Health Risks, and Urban Revitalization (PDF) (14 pp, 1.5 MB, March 1993, About PDF) | EPA Cross-Media | Innovative Investment Models , Sustainability and Resiliency |
1992 May |
Narrowing the Gap: Environmental Finance for the 1990s (PDF) (39 pp, 7.3 MB, May 1992, About PDF)(xx pp, yy K, About PDF) | EPA Cross-Media | Incentives for Private Investment, State and Local Capacity (including TMF), Small Community Financing |
1992 March |
Public Sector Options to Finance Environmental Facilities (PDF) (62 pp, 9 MB, March 1992, About PDF) | State Revolving Funds | Innovative/Cost-Effective Financing, Small Community Financing, State and Local Capacity (including TMF) |
1992 | Clean Air Act of 1990: A Guide to Public Financing Options (PDF) (24 pp, 6 MB, 1992, About PDF) | Air | Innovative Investment Model, Public Private Partnerships and Alternative Financing |
1991 November |
Private Sector Participation in the Provision of Environmental Services: Barriers and Incentives (PDF) (41 pp, 4.7 MB, November 1991, About PDF) | EPA Cross-Media | Incentives for Private Investment, Public Private Partnerships and Alternative Financing |
1991 August |
Small Community Financing Strategies for Environmental Facilities (PDF) (73 pp, 8.4 MB, August 1991, About PDF) | EPA Cross-Media, State Revolving Funds | Small Community Financing |
1991 August |
Incentives for Environmental Investment: Changing Behavior and Building Capital (PDF) (47 pp, 6.1 MB, August 1991, About PDF) |
EPA Cross-Media | Innovative/Cost-Effective Financing |