2008 SmartWay Clean Diesel Finance Grant Projects

Cascade Sierra Solutions

$1.13M

The EPA funds will serve as a security interest allowing Cascade Sierra Solutions to substantially expand its line of credit to $17.1 million that it will use to provide below-market interest rates loans. These loans will allow truck owners to install and lease SmartWay fuel saving technologies or EPA or CARB-verified emission reduction technologies. The goal is to install emission reduction technology and idle reduction technology on 1,700 trucks.

Community Development Transportation Lending Services (CDTLS)

$1.13M

This project will create a revolving loan program. CDTLS will work with truck dealerships to offer low interest loans, ranging from 5.5% - 8.5%, and longer loan payback periods, ranging from three to six years, to qualified applicants who wish to purchase used trucks that are upgraded with SmartWay fuel savings idle reduction and/or emission reduction technology. The goal is to lend funds for the purchase of over 200 used trucks with complete SmartWay upgrades.

Owner-Operator Independent Drivers Association (OOIDA)

$1.13M

The association will offer a financing package that includes below-market financing and rebates for emission reduction and idle reduction equipment on their trucks. OOIDA will also use the EPA funds as a security interest for their line of credit, which will allow them to offer loans to applications with lower FICO scores.