Posted on : 26-03-2009 | By : Truckdrivernews | In : Thoughts from a trucker, truck driver Industry
State officials on Wednesday announced details of one piece of a $1 billion assistance package to help truckers comply with new air pollution regulations for heavy-duty diesel trucks.
The state Air Resources Board will provide $48 million to an existing small business loan-guarantee program administered by the California Pollution Control Finance Authority. That backing will leverage about $350 million in loans for small trucking firms that don’t meet most banks’ underwriting standards, according to a statement from state Treasurer Bill Lockyer, who chairs the authority.
The funding is authorized under the current state budget.
Loans and grants to fund the truck retrofits and replacements are expected to total roughly $1 billion, the most ever provided by the state for compliance with a vehicle regulation.
Trucking firms seeking more details on the loan guarantees can call the Calif
ornia Pollution Control Finance Authority at (916) 654-5610 or see www.treasurer.ca.gov/cpcfa
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