2008 SmartWay Clean
Diesel Finance Program
Other Federal and State Funding Opportunities
Based on EPA FY 2008 National Diesel Emissions Reduction Program
appropriations, EPA awarded $3.4 million in grants to support three
innovative financial assistance programs. These financial assistance
programs provide innovative loans to help small trucking firms lower their
fuel costs and their carbon footprint by purchasing newer used trucks and
idling and emissions reduction technologies.
The information provided below is based on each 2008 grant recipient's
loan/lease program and is subject to change. Interested applicants
should contact each organization for specific application
information. |
|
2008 SmartWay Clean Diesel Finance Grant Awards
| Award Recipient |
Project Overview |
Community Development Transportation Lending Services, Inc.
(CDTLS) National Low Interest Revolving Loan Fund
Award Amount:
$1.13 M |
Program Details:
- Interest rates: 5.5% - 8.5%, varies based on, among
other things, each applicants business history, available collateral,
cash flow and credit score
- Loan payback period: 3 - 6 years, varies based
on, among other things, business history, available collateral, and cash
flow
- Geographic Location: Nationwide
- Eligible activities: Purchase used
trucks to upgrade with EPA SmartWay or CARB verified idle reduction
and/or emission reduction technology.
Purchase used trucks that are
upgraded with EPA SmartWay or CARB verified idle reduction and/or
emission reduction technology.
- Program Goal: Establish a revolving loan fund for
the purchase of used trucks that have SmartWay upgrades or will receive
SmartWay upgrades.
Contact Information:
|
Cascade Sierra Solutions (CSS) Everybody Wins USA Lease
Program
Award Amount:
$1.13 M |
Program Details:
- Loan Interest Rate: 8-11%, includes: 7% for
Financing Cost, 1% Collection Fee, and 1-3% Reservation Loss
- Loan Payback Period: 3 years
- Geographic Location: Nationwide
- Eligible Activities: Installation and leasing of
EPA SmartWay or CARB verified emission and idle reduction
technologies. The truck owners will purchase the equipment for $10
at the end of the loan period.
- Program Goal: Establish a leasing program for the
installation of emission reduction technology and idle reduction
technology on 1,700 trucks.
Contact Information:
|
Innovative Financing OOIDA Foundation (Owner-Operator
Independent Drivers Association Foundation)
Award Amount:
$1.13 M |
Program Details:
- Loan Interest Rate: Varies based on market SWAP
rate
- Geographic Location: 48 contiguous states
- Eligible Activities: Purchase and installation of
emission reduction and idle reduction technologies verified by EPA
and/or CARB.
- Program Goal: Offer rebates to selected
applicants/truck owners to install emission reduction and/or idle
reduction equipment on their trucks. The first rebate to the truck
owner will be for the cost of the equipment installation. Then,
every six months, depending on idle/fuel use reductions demonstrated,
the truck owner will receive additional rebates until 40% of the total
cost of the equipment is paid.
Contact Information:
- Director of Operations: Tom Weakley
- Phone Number: (816) 229-5791
- Fax Number: (816) 427-4468
- E-mail Address: tom_weakley@ooida.com
- Address: 1 NW OOIDA Dr., Grain Valley, MO. 64029
- Website: http://www.ooida.com/
|
Please note, EPA does not endorse the products or services of commercial
companies. Any reference to a specific commercial product or service by trade
name, trademark, manufacturer, company or otherwise does not constitute or imply
the endorsement or recommendation of the U.S. Environmental Protection
Agency. The financial institutions and their loan programs listed are not
government loans. If you obtain a loan from any of these financial
institutions, you are subject to their terms and conditions.
Want to Learn More?
To learn more about Innovative Financing options, please contact:
SmartWay Call Center
734-214-4767
smartway_transport@epa.gov
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