TRANSPORTATION – Vermont Municipal Equipment Loan Fund

TRANSPORTATION – Vermont Municipal Equipment Loan Fund

Supports purchase of construction, fire, emergency or heavy equipment or vehicles.

Details

• Funding Entity: Vermont Treasurer’s Office
• Funding Type: Loan
• Funding Range: Equipment purchase price must be at least $20,000. Loans cannot exceed 75% of the purchase price of the equipment.
• Match Required: The balance of the purchase price of the equipment

Notes

No more than $150,000 can be loaned to a single municipality annually.The loan must be repaid in no more than five years.For loans to a single municipality the interest rate is two percent. For loans to two or more municipalities jointly purchasing equipment, no interest is assessed.Equipment must have a useful life of at least five years. Equipment may be new or used.