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Small businesses use loan assistance option to purchase cleaner
equipment. 

Contact: Cassandra Hockenson- (916) 322-2990

SACRAMENTO:  The California Air Resources Board and the
California Pollution Control Financing Authority, part of the
State Treasurer’s Office, has hit the $100 million mark in
financial assistance to small-business truckers.

The funding is provided through a program that provides small
businesses with financial assistance to obtain loans or
lease-to-own arrangements so they can purchase newer, cleaner
trucks ahead of schedule for state clean truck and bus
regulations. 

“The success of this program means that truck owners are serious
about using the financing options available to them to prepare
for the truck regulations we have in place,” said ARB Chairman
Mary D. Nichols.  “California residents get to enjoy cleaner air
and more hardworking truckers are prepared to comply with ARB’s
clean air regulations.”

“Reaching the $100 million mark represents a milestone in
providing truckers with an affordable way to reduce emissions,
increase fuel efficiency and save themselves money,” said State
Treasurer Bill Lockyer. “We have helped diesel truck owners
through our loan guarantee program that may not have otherwise
received financing to upgrade their vehicles.  It’s a win-win for
truckers and the environment.”

The loan assistance program provides loans and lease-to-own
opportunities (known as Terminal Rental Adjustment Clause or
‘TRAC’ leases) to the small business owner that has 100 or fewer
employees and generates $10 million or less in annual revenue
primarily in California. 

The program—officially known as “Providing Loan Assistance for
California Equipment” or PLACE provides additional funding
opportunities to small businesses in today’s tight credit market.
So far the program has been instrumental in issuing 1,511
purchasing loans and 88 leases, totaling 1599 financing
agreements.  These funds helped purchase 1,671 clean trucks and
183 exhaust retrofits (installing special filters on older trucks
that capture 85 percent of the soot in the exhaust). 

The loan guarantee programs are designed to assist truckers who
are prepared to comply ahead of schedule for two separate
regulations:  the statewide clean Truck and Bus regulation; and
the Heavy Duty (Tractor Trailer) Vehicle Greenhouse Gas Reduction
regulation. Both were adopted in 2008 and are part of the state’s
overall commitment to cut toxic diesel emissions 85 percent by
2020.  

Diesel Exhaust contains a variety of harmful gases and over 40
other known cancer causing compounds. California identified
diesel particulate matter as a toxic air contaminant based on its
potential to cause cancer, premature death and other health
problems.  

For more information on the state’s diesel reduction programs
call 1-866-6DIESEL, email 8666DIESEL@arb.ca.gov or visit
www.arb.ca.gov 

For more information about PLACE program financing go to
http://www.treasurer.ca.gov/cpcfa/calcap.asp