Zero-Emission Heavy-Duty Vehicle Pilot Loan Program Introductory Webinar
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The California Air Resources Board (CARB) is pleased to announce the upcoming launch of the pilot Zero-Emission Heavy-Duty Vehicle Air Quality Loan Program in conjunction with California Pollution Control Financing Authority through their California Capital Access Program (https://www.treasurer.ca.gov/cpcfa/calcap/index.asp) (CalCAP).
The new pilot program will support financing opportunities for heavy-duty zero-emission vehicles. As an “Independent Contributor” to CalCAP, CARB will contribute a percentage of an enrolled loan into a “loan loss reserve” account for each participating financial institution. In the event of a qualifying loan default, the financial institution may request reimbursement for the principal loss from CalCAP, and the amount is deducted from the institution’s loan loss reserve account.
With these funds available, lenders are better equipped to lend to businesses that need a little extra assistance and typically offer more favorable terms than the business would otherwise qualify for.
Introductory Webinar
A virtual introductory webinar will cover how the loan loss reserve process operates, lender and fleet requirements, forms necessary to enroll loans, how to submit a claim, as well as a review of common incentives and stackability.
The webinar is scheduled for:
May 1, 2024 at 10:00am