Petroleum Storage Tank Loan Program Loan Application - Utah

Petroleum Storage Tank Loan Program Loan Application is a legal document that was released by the Utah Department of Environmental Quality - a government authority operating within Utah.

FAQ

Q: What is the Petroleum Storage Tank Loan Program?
A: The Petroleum Storage Tank Loan Program provides financial assistance to eligible individuals or businesses for the installation or upgrade of petroleum storage tanks.

Q: Who is eligible for the Petroleum Storage Tank Loan Program?
A: Individuals and businesses involved in the storage, handling, or distribution of petroleum products in Utah may be eligible for the loan program.

Q: What can the loan funds be used for?
A: The loan funds can be used for the installation, upgrade, or removal of petroleum storage tanks, as well as for related costs such as site assessments and cleanup.

Q: How much can I borrow through the Petroleum Storage Tank Loan Program?
A: The loan amount can vary depending on the project, but the program typically provides loans of up to $500,000.

Q: What are the interest rates and terms for the loans?
A: Interest rates and terms vary depending on the specific project and borrower, but generally, the program offers low interest rates and flexible repayment terms.

Q: How do I apply for the Petroleum Storage Tank Loan Program?
A: To apply, you will need to complete a loan application form and provide all required documentation. The completed application should be submitted to the designated loan program administrator.

Q: Is there a deadline for applying?
A: There is no specific deadline for applying to the Petroleum Storage Tank Loan Program. However, it is recommended to submit your application as early as possible.

Q: Are there any eligibility criteria for the loans?
A: Yes, there are eligibility criteria that applicants must meet. These criteria include being a Utah resident or business, and having a valid project that meets program requirements.

Q: What happens after I submit my loan application?
A: Once your loan application is received, it will be reviewed by the loan program administrator. They will evaluate your application and determine if you meet the eligibility requirements.

Q: Can I use the loan funds for other purposes not related to petroleum storage tanks?
A: No, the loan funds can only be used for eligible purposes related to petroleum storage tanks and associated costs.