EPA Loans to Help Truck Fleets Save Money and Reduce Emissions
WASHINGTON, D.C. – Small truck fleets can save money and reduce pollution with a new loan initiative that will help pay for fuel-saving technologies. The U.S. Environmental Protection Agency (EPA) is partnering with the Small Business Administration to make loans available to purchase SmartWay Upgrade Kits.This 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 truck fleets finance the purchase of SmartWay Upgrade Kits. The kits 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.Participating lenders will provide quick approval and affordable monthly payments. Small truck fleets can borrow from $5,000 to $25,000, with no collateral, an online or telephone application, and flexible loan terms.