The Iowa Finance Authority and the Iowa Department of Natural Resources announced that the Environmental Protection Commission has approved lowering the interest rates for most State Revolving Fund Construction loans from 3 percent to 1.75 percent, effective Sept. 28. The revolving fund has provided affordable financing to assist more than 500 Iowa communities and municipalities for the construction of water quality projects.  State Revolving Fund loans more than 10 years old will be eligible to be refinanced down to the new, lower interest rate. The reduced interest rate would save approximately $150,000 in interest for a community with a 20-year, $1 million loan. The fund also offers programs to assist landowners, homeowners, farmers and others with water quality initiatives. More information is available at www.IowaSRF.com.