Underground Storage Tank Cleanup Fund - RUST Loans

Loan Amount - Loans can range from $10,000 to $750,000.

Eligible Uses:

Costs needed to get into compliance with the Senate Bill 989. Typically this includes

• plans
• permits
• drawings
• excavation and removal of tanks
• installation of new tanks
• double walled piping
• dispensers
• under-dispenser containment boxes/pans
• electronic monitoring system and enhanced vapor recovery system

Loan Terms and Collateral:

The loan term is ten years when secured by Uniform Commercial Code Financing Statement on business assets. Or twenty years when the loan is secured by a Deed of Trust on real estate with adequate equity.

Interest Rate and Fees:

Below conventional market rates. Loan fee of 2% paid at final loan closing.