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UST Branch: Announcement of Loan Application Period
ATTENTION: Underground Storage Tank (UST) Owners and Operators
A new application period for the Petroleum Storage Tank low-interest loan fund has been declared. The application period will begin on January 7, 2014 and will close at 5:00 p.m. on December 31, 2014.
Loans may be made for upgrading, replacing, or closing USTs. If you wish to apply for a loan, submit the loan application to the Division of Environmental Response and Remediation (DERR) before December 31, 2014. To apply for loans for more than one facility, copy the application and submit one form for each facility for which you are applying for a loan. Submit the application to:
Division of Environmental Response and Remediation
PO Box 144840
Salt Lake City, Utah 84114-4840
Be sure to include the following:
- Completed loan application form
- Completed balance sheet form or a separate comparable financial statement
- A contractor's bid for the work to be done
- Copies of your federal and state tax returns for the last two years. Also include corporate returns if you are applying as a corporation.
Loans can be made for a maximum of 80% of the cost of the work, up to $150,000 per facility or $50,000 per tank, if you have fewer than three tanks.
When your application is received, it will be reviewed to determine if you meet the eligibility requirements stated in the Utah UST Act (19-6-405.3(4)). If your facility meets the eligibility requirements, the loan application review will be conducted.
Loans cannot be made for work that is performed before your application is approved and you close the loan. You must not begin the project until all the loan closing papers are filed and you are notified by DERR.
Please view the links below for information on the loan fund and the application process.