MDA Accepting AFV Loan Applications
Jackson, Miss. (January 21, 2014) – The Mississippi Development Authority’s Energy and Natural Resources Division is accepting applications for the Mississippi Alternative Fuel School Bus and Municipal Motor Vehicle (AFV) Revolving Loan Program.
The program provides municipalities and public school districts with zero percent interest loans and may be used to cover the cost difference between the purchase of a new AFV and a comparable conventional model; to cover the cost of a new fuel system, including construction and installation; and for the purchase of a new fuel system for the conversion of existing fleet vehicles to AFVs. Alternative fuels include propane gas, compressed natural gas and liquefied natural gas.
“Alternative-fuel vehicles are a terrific option for energy and cost savings, especially when managing a fleet of vehicles,” said Karen Bishop, director of MDA’s Energy & Natural Resources Division. “The AFV Revolving Loan Program will give municipalities and public school districts a new mechanism to finance vehicles and infrastructure at no interest. We are hopeful this program will help move the AFV market forward in Mississippi.”