Truck Loan Assistance Program
Contact
Categories
The Truck Loan Assistance Program is closed.
What did it fund?
Helped small-business fleet owners affected by CARB's In-Use Truck and Buses Regulation secure financing for upgrading their fleets with newer trucks. The program provided borrowers the opportunity to purchase used and new heavy-duty trucks with 2010 and later model year engines CARB-certified to 2010 and later model year emission standards. Trailers were eligible for financing in conjunction with an eligible tractor.
Who was eligible for funds?
The program funded small business truck owners with 100 or fewer employees, $10 million or less in annual revenue averaged over three years, and fleets with 10 or fewer heavy-duty vehicles subject to the In-Use Truck and Bus Regulation.
Are there recent policy changes?
Enrollments in the loan program ended July 31, 2023. CARB is now prioritizing funding to support zero-emission heavy-duty vehicles.
How did this program provide benefits to priority populations?
The program created financing opportunities for truck owners that fell below conventional lending criteria and were unable to qualify for traditional financing. Almost half of the Truck Loan Assistance Program funding has been spent within and benefiting individuals living in low-income and disadvantaged communities. The program had broad statewide appeal including in rural regions.
How do I access funds?
Funding is no longer offered through this program, which ended July 31, 2023. CARB is now prioritizing funding to support zero-emission heavy-duty vehicles through the new Zero-Emission Truck Loan Pilot Project.
Funding Sources
- Air Quality Improvement Fund
- Vehicle Inspection and Repair Fund