EPA offering fuel-saving loans
Nov 16, 2006 1:36 PM
The Environmental Protection Agency (EPA) is reminding small trucking companies about its new loan initiative that will help pay for fuel-saving technologies.
The agency is partnering with the Small Business Administration (SBA) to make loans available to purchase SmartWay Upgrade Kits that include idle-reduction devices, low rolling resistance tires, aerodynamic equipment, and exhaust after-treatment devices. The kits can improve truck fuel efficiency by 15 percent and save more than $8,000 in fuel costs annually, while significantly reducing emissions of soot and nitrogen oxides, EPA said.
Small trucking firms can borrow from $5,000 to $25,000, with no collateral, an easy on-line or telephone application, and flexible loan terms. Information on EPA's SmartWay Transport Partnership program and the loan initiative can be found by clicking here for the SmartWay Web site.
The loan initiative uses SBA Express Loans and partners with Bank of America, Business Loan Express, Superior Financial Group, and other SBA lenders to help small trucking companies finance the purchase of SmartWay Upgrade Kits. The Participating lenders will provide quick approval and affordable monthly payments.
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