Freight Rail Investment Bank (FRIB) loan program
Forecasted
Freight Rail Investment Bank (FRIB) loan program supports Washington public-sector organizations with loans for freight rail capital projects that improve the state’s rail system and benefit state interests.
Funder: Washington State Department of Transportation
Due Dates (Anticipated): September 2028 (Application deadline)
Funding Amounts: $5 million identified for FRIB loans in the 2027–2029 biennium; repayment up to 15 years
Summary: FRIB offers loans for Washington freight rail capital projects that state support can help complete.
Key Information: Only public-sector organizations may receive FRIB loans, and applicants must provide at least a 20% match.
Description
The Washington State Department of Transportation (WSDOT) runs the Freight Rail Investment Bank (FRIB) as part of its state rail grant and loan programs. FRIB provides loans to public-sector organizations for freight rail capital projects in Washington. It is intended for smaller projects or a defined final portion of a larger project where state funds would enable completion. WSDOT’s separate Freight Rail Assistance Program provides grants.
Projects must maintain or improve the state’s freight rail system and benefit state interests. Eligible capital work can include track and structure rehabilitation, capacity improvements, signals and communications systems, port or transload connections, and railroad machinery. WSDOT evaluates proposed projects for their matching contributions, readiness, business plans, and public benefits.
