The Municipal Equipment Loan Fund is governed by Vermont Statute Title 29, Chapter 61.
The Municipal Equipment Loan Fund was created for the purpose of providing loans on favorable terms to municipalities for the purchase of construction, fire, emergency or heavy equipment or vehicles.
The amount loaned shall be no more than 75% of the purchase price of the equipment and shall 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, there shall be no interest assessed.
A committee, consisting of the State Treasurer, Secretary of Transportation, Commissioner of Public Safety and Commissioner of Motor Vehicles, reviews and approves applications.
How to Apply
- State Treasurer, Chair
- Secretary of Transportation or Designee
- Commissioner of Motor Vehicles or Designee
- Commissioner of Public Safety or Designee
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