EPA Brownfields Revolving Loan Fund Loan Underwriting Services

The City of New London, Connecticut, is requesting proposals for professional loan underwriting services supporting its EPA Brownfields Revolving Loan Fund (RLF) Program, with proposals due July 16, 2026 at 2:00 p.m. EDT through the City's OpenGov Procurement portal. Written questions are due June 25, 2026.

Minimum qualifications include five years of demonstrated commercial loan underwriting experience, public-sector lending expertise, professional liability insurance with E&O coverage, data security compliance, Connecticut business authorization, and no federal or state debarment. The selected consultant must maintain a secure application and document submission process with commercially reasonable security measures to protect confidential borrower financial information.

The scope includes evaluating borrower creditworthiness and repayment ability, assessing project feasibility and financial risk for cleanup projects on brownfield properties, reviewing borrower financial information, conducting credit analysis, identifying risk, and preparing written underwriting memoranda with loan recommendations. Underwriting costs are borne by the borrower; proposers must submit fixed fee schedules for standard underwriting reviews categorized by loan size (up to $100,000; $100,001–$250,000; $250,001–$500,000) plus hourly rates for additional services and reimbursable expenses.

The City has been awarded $1 million in EPA Brownfields RLF funding, with at least $500,000 designated for loan capitalization, available through September 30, 2028. The City anticipates closing three to four loans before the funding deadline and makes no guarantee regarding the number of loan applications or total work volume. The contract is anticipated to commence August 5, 2026, and continue through September 30, 2028, unless terminated earlier. The City reserves the right to extend the agreement subject to funding availability and mutual agreement.

Evaluation criteria are relevant experience (25 points), proposed approach and methodology (20 points), staffing and key personnel (15 points), secure document handling capabilities (10 points), fee proposal (10 points), ability to provide timely service (10 points), and references (10 points). Oral interviews, if conducted, are scheduled for July 22–23, 2026, with a Notice of Intent to Award anticipated July 24, 2026, and City Council approval targeted for August 3, 2026.