The H-GAC Drayage Loan Program is a low interest loan program that enables eligible truck owners to finance the purchase of newer, cleaner and more environmentally-friendly trucks. This innovative program is intended to establish a revolving loan fund that will enable an individual borrower to obtain a “bridge loan” equal to the difference between the actual cost of purchasing a newer model qualified truck and the incentive grant that truck owners apply for through TCEQ Texas Emissions Reduction Plan (TERP). In cases where an applicant wishes to only apply for the Drayage Loan, stand-alone loans will also be considered.
About the H-GAC Drayage Loan Program
The H-GAC Drayage Loan Program will provide independent owner operators and trucking companies servicing the Ports in the H-GAC region the opportunity to apply for financing to replace their older drayage trucks with cleaner, safer and more fuel efficient models. Applicants that are eligible to participate may qualify for a loan toward the purchase of a low mileage 2009 engine (<400,000 miles) or newer.
Drayage Loan Amounts
Qualifying applicants may receive loans between $5,000 and $100,000 to cover the difference between the cost of the vehicle and incentive grant.
Funding the Drayage Loan Program
The United States Environmental Protection Agency (US EPA) through the American Recovery and Reinvestment Act (Stimulus Bill) – National Clean Diesel Funding Assistance Program awarded $9 million dollars to the Houston-Galveston Area Council to establish this program.
Message from a Program Applicant
“As the Transportation Manager for Intergulf Corporation, I am responsible for a fleet of trucks that run an average of 1 million plus miles a year around the greater Houston area. I had read about the Houston-Galveston Area Council Drayage Loan/TERP program, so I reached out to them to find out more information. After talking to them I realized that if the information they gave me was true, I had just found a way to reduce our transportation costs and help clean up the environment at the same time. With HGAC's help, Intergulf was able to replace our 8 oldest trucks and purchase 8 brand new 2012 Freightliner Coronados. With the TERP grant and fixed interest rate loan, the 8 new trucks that we purchased will cost us less per month to operate (including truck payment) than it would have been if we had kept the old 8 trucks. I know you are thinking that this is too good to be true, but trust me it is not. If you are working with someone that is skeptical, they can contact me and I would be glad to talk with them. Thank you so much HGAC!” -Mr. Jay O'Shields, Intergulf Corporation
H-GAC Program Staff assisting owner-operators at an outreach event held July 22, 2010 at Empire Trucks Driver Appreciation Day
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How to Apply
Applications will be accepted and processed on a first-come, first-served basis.
***You must first fill out the Pre-Screening for and e-mail/mail it to the address below. A Drayage Loan specialist will contact you either by phone or e-mail. After you have been pre-qualified, you will receive the loan application by e-mail or mail, depending on your preference. Drayage Loan specialists are also available to help you fill out the application at our offices at 3555 Timmons Lane, Houston, Texas 77027. Please call ahead of time to set up an appointment.***
We encourage all interested applicants to submit their applications as soon as possible.
The H-GAC Drayage Loan Process takes approximately 30 days.
Downloadable applications can be found on the right-hand sidebar under "Forms".
Please direct all questions about our program to
Telephone: (832) 681-2588
Email: drayageloan@h-gac.com
Visit: www.hgacdrayageloan.com
Address:
H-GAC Drayage Loan Program
Transportation Department
P.O. Box 22777
Houston, TX 77227-2777
Looking for a Truck?
The following site will help you find an eligible truck for sale by allowing you to search for trucks based on the following items:
- Truck Type
- Manufacturer
- Location/Distance
- Year
- Price
- Mileage
http://www.commercialtrucktrader.com/