Replacing, Removing, or Upgrading Underground Storage Tanks Loan

The State Water Resources Control Board offers the RUST (Replacing, Removing, or Upgrading Underground Storage Tanks) loan program to assist California small‑business UST owners and operators in financing the full cost of tank upgrades, removals, or replacements to meet state and federal environmental standards. Loans range from $10,000 to $750,000 with either a 10‑year term (secured by business assets) or a 20‑year term (secured by real‑estate equity), carry a low‑interest rate, and require a 2 % loan fee at closing. Applicants must be California‑based small businesses (<500 employees), demonstrate financial ability, and comply with Health and Safety Code requirements. The program is ongoing, with no fixed application deadline, and disbursements are made via reimbursement upon submission of contractor invoices. • Eligible applicants: California‑based small businesses that own/operate underground storage tanks. • Loan amounts: $10,000 – $750,000. • Terms: 10‑year (UCC‑secured) or 20‑year (deed‑of‑trust secured). • Interest: Low‑interest (current rate to be confirmed with State Water Board or local FDC). • Fees: 2 % loan fee due at closing. • Funding method: Reimbursement upon contractor invoice submission (Std. 261 Form). • No matching funds required; letter of intent required. • Application: Ongoing; read full guidelines and submit via the grant portal.