EPA offers loans to truckers investing in fuel-saving technology
WASHINGTON -- The Environmental Protection Agency's Smartway division is partnering with several lenders to make loans available to small trucking companies to help pay for technologies that will save fuel and money while reducing pollution. "A wide variety of technologies are available to help trucking companies save on fuel costs. However, many companies lack the required up-front investment capital," says EPA. To help more companies start saving fuel and money while reducing the emissions produced by their trucks, SmartWay has developed technology bundles called "SmartWay Upgrade Kits" and financing tools such as SmartWay Transport Truck Loans. SmartWay Transport is using Small Business Administration lending programs to help small trucking companies to save fuel and reduce pollution through "SmartWay Transport Truck Loans." These loans offer affordable monthly payment plans for purchasing technology bundles called SmartWay Upgrade Kits (or individual components). Participating lenders offer a rapid approval process and don't require collateral. In Canada, the Canadian Trucking Alliance and other industry groups are calling on Ottawa to reinstate the NRCan's Commercial Transportation Energy Efficiency Rebate (CTEER) program, which was ran from August 2003 to March 31, 2006. CTEER -- administered by NRCan's FleetSmart -- attempted to reduce unnecessary truck idling by offering rebates of up to 20 percent between $350 and $1,400 on pre-approved cab heater and air conditioning units or auxiliary power generators. During the life of the program, the federal government invested $5.8 million in rebates, with the trucking industry dolling out $30 million. The return on investment eventually proved to be substantive -- over 13,000 auxiliary heating/cooling systems were introduced into the heavy truck market eliminating on average 2,200 idling hours from each of the trucks equipped with the devices, according to CTA. For more details about SmartWay loans, go to the website linked below and download the PDF brochure.