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Insurance and Self-Insurance Funds

Community Development Transportation Lending Services (CDTLS, the Fund), is pleased to present this low-interest borrowing opportunity to public, nonprofit or private transportation businesses that provide transportation or transportation-related services. We can lend significant funds at very low and negotiable interest rates to assist in developing self-insurance pools or for short term insurance premium coverage. CDTLS can lend you the affordable financing that will make your company a success.

Eligible Applicants:

  • nonprofit, public or private transportation providers and transportation businesses

Eligible Projects:

  • Self-Insurance Funds
  • Short Term Insurance Premium Coverage

Loan Terms:

  • repayment terms and length of loans vary by project
  • a one-time service charge is levied at loan closing to cover program costs
  • interest rates are negotiable, depending on type of collateral/loan term
  • loans must be fully secured

Examples of Approved CTAA Loans:

  • Advance Transit in Wilder, Vt. used a $150,000 loan as a federal/state local match for funds to construct a state-of-the-art maintenance office and vehicle storage facility for its fleet of small buses and paratransit vehicles.
  • The Havre Day Activity Center in Montana purchased a vehicle maintenance facility with a five year, $65,000 CTAA loan.
  • SEVCA Transportation in Vermont used a $55,000 CTDF loan as a local match to replace its aging fleet of vans and small buses.
  • Buckeye Charter Services, Inc., in Lima, Ohio borrowed $112,000 from CTAA to purchase a refurbished 47 passenger MCI coach to expand its charter and employment transportation services.
  • A $150,000 loan to the Aaron B. Henry Community Health Services Center in Clarksdale, Miss. as a local match for facility/office building renovation and service expansion.

Application

Preliminary Loan Application (Word Document)(31 KB)

Contact

Program Director
Community Development Transportation Lending Services
1341 G. Street, NW, 10th floor
Washington, D. C., 20005
Phone: 202-415-9682
Toll-Free: 800-891-0590, ext. 710
Fax: 202-737-9197

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