The fiscal year (FY) 2009/10 loan application period is now closed.
The California Integrated Waste Management Board announces a new loan program for tire-based businesses that make recycled-content products, for fiscal year 2009/10. The program encourages businesses to expand and site new facilities in California, by providing low-interest loans for the purchase of equipment. The intent of this loan program is to help California tire-based businesses increase their processing capabilities and markets for recycled-content tire derived products. For more detailed program information, please visit the Tire Equipment Loan Program.
Applicants: Eligible applicants are private businesses that produce in California, or demonstrate a long-term commitment to produce, products made from recycled 100 percent California-generated scrap tires for the recycled rubber portion of the product. Priority will be given to businesses located outside of an RMDZ. To determine if your business is within or outside of an RMDZ please see the RMDZ Zone Search Map.
General Loan and Project Eligibility Criteria: More information on project eligibility criteria can be found on the Tire Equipment Loan Program: General Loan and Project Eligibility Criteria.
Application Period: Applications are available beginning July 9, 2009. They will be processed on a first come, first-served basis. The Board must receive the application on or before Thursday, December 31, 2009. Applicants are encouraged to use an overnight shipping company with Internet tracking numbers to verify receipt of the application.
- A total of $4,000,000 is available for FY 2009/10.
- The maximum loan amount is $2,000,000.
- Loan funds are for the purchase of tire machinery and equipment that will result in new diversion of tires from California landfills.
- The loan can finance 75 percent of the cost of machinery and equipment. The borrower must document the availability of 25 percent matching funds as part of the loan application process.
Loan Process: For more information on the loan process, please see the Tire Equipment Loan Program: Loan and Fund Disbursement Process