Alternative Fuel Vehicle (AFV) Loan Fund
The Business Environmental Clean-Up Revolving Loan Fund offers loans for working or development capital to businesses that convert gasoline and diesel-powered vehicles to run on alternative fuels. In order to qualify, a business must meet the following four criteria:
- Have been in business for at least two years;
- Have gross revenues under $3 million in its most recent fiscal year or have less than 150 employees;
- Derive at least 75% of its gross revenues from motor vehicle fuel conversion activities; and
- Demonstrate that it is unable to obtain financing from conventional sources on reasonable terms or in reasonable amounts.