Heavy-Duty Vehicle Air Quality Loan Program

https://www.treasurer.ca.gov/cpcfa/calcap/arb/index.asp

Funding:

First-come, first-served program. The program provides up to 100% of coverage on losses from certain loan defaults. Participating financial institutions and lenders can provided favorable loan terms for small businesses owner.

Dates:

Open to new applications

Summary:

The California Capital Access Program’s (CalCAP) Heavy-Duty Vehicle Air Quality Loan Program is a loan loss reserve program aimed to support financial institutions when they underwrite small business loans for air quality compliant vehicles to small fleet owners.

Qualifying Vehicles:

· Used or new trucks equipped with 2010 and later model year engines CARB-certified to 2010 and later model year emission standards

· Equipment Warranty, when funded with the purchase of an eligible truck; and the engines that use diesel fuel, compressed natural gas (CNG), liquefied natural gas (LNG), or other fuels including zero-emission technology

Requirement:

· Must be a small business with 100 or fewer employees and $10 million or less in average revenues in the past three years.

· Borrowers have 10 or fewer on-road vehicles subject to the same regulations as those referenced in this program.

· Must purchase vehicles with loans from participating lenders and financial institutions.

Participating Financial Institutions: https://www.treasurer.ca.gov/cpcfa/calcap/sb/institutions.pdf

Loan Enrollment Application: https://www.treasurer.ca.gov/cpcfa/calcap/arb/enrollment.pdf

Borrower Eligibility Criteria Form: https://www.treasurer.ca.gov/cpcfa/calcap/arb/certification.pdf