The fiscal year (FY) 2010/11 loan application period is now closed.
The Department of Resources Recycling and Recovery (CalRecycle) is authorized to award low-interest loans to California-based tire recycling manufacturers who make recycled-content products. The Tire Equipment Loan Program encourages the siting of new facilities and expansion of existing operations in California by providing low-interest loans for equipment purchases. The intent is to help California-based tire manufacturers increase processing capability and create markets for tire-derived recycled-content products.
- A total of $4,000,000 is available for fiscal year (FY) 2010/11. Loans will be disbursed to qualified applicants, subject to funding availability and passage of the FY 2010/11 Budget Act.
- The maximum loan amount is $2,000,000 or 75 percent of the project cost, whichever is less.
- Loan funds can only be used for the purchase of tire machinery and equipment that will result in new diversion of tires from California landfills.
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.
General Loan and Project Eligibility Criteria: More information on project eligibility criteria is in CalRecycle’s ” Tire Equipment Loan Program: General Loan and Project Eligibility Criteria“.
Loan and Fund Disbursement Process: For more information about the loan process, see CalRecycle’s “Tire Equipment Loan Program: Loan and Fund Disbursement Process“.
Applications forms are available on CalRecycle’s Tire Equipment Loan Program page.
CalRecycle must receive the application on or before Friday, December 31, 2010 for consideration of loan funding from FY 2010/2011. Applicants are encouraged to use an overnight courier service with Internet tracking numbers to verify CalRecycle receipt of the application.
Department of Resources Recycling and Recovery (CalRecycle)
Tire Equipment Loan Program (Mail Stop 9)
1001 I Street, P.O. Box 4025
Sacramento, CA 95812-4025