ALEXANDRIA, Va. -- NATSO, the national trade association representing truckstops and travel plazas, and its Chairman’s Circle member Allied Brand Capital, have rolled out a new financing program designed to help truckstop and travel-center operators maintain and upgrade underground storage tanks (USTs) and other equipment.
The new financing program is designed to make it easier for truckstop and travel-center operators to finance the costs associated with maintaining USTs, detecting leaks and fuel contamination and maximizing fuel system cleanliness necessary for diesel equipment.
“Our goal at Allied Brand Capital is to give business owners tools to grow their business. NATSO members know the importance of strategic investments in new equipment, and we want to help them obtain the capital they need to make improvements,” said Mike Cerminaro, president of Kingston, N.J.-based Allied Brand Capital, the exclusive financing partner of NATSO, Alexandria, Va.
NATSO and Allied Brand Capital’s new UST financing program follows the recent release of new U.S. Environmental Protection Agency (EPA) guidance for maintaining USTs, as well as enhanced requirements for businesses that own or operate a UST system.
“Upgrading equipment is important as a best business practice and to ensure compliance with state and federal regulations,” said Pamela Hayes, vice president of business development for NATSO. “We’re thrilled to roll out special financing operations that can help our members invest in their locations.”
As part of its partnership with NATSO, Allied Brand Capital requires only an application for requests up to $250,000 except for requests for stand-alone UST projects, which are limited to $150,000 including installation. Allied Brand Capital offers flexible terms and deferred payment options; no limit on requests supported by full financial packages; a 60-month term; no down payment; one advance payment; and competitive single-digit fixed rates on approved credit.
In addition to UST financing, operators can take advantage of Allied Brand Capital’s 2016 Summer Relief Program, which allows business owners to make equipment purchases now and pay only $29 per month for the first six months of the loan. Eligible equipment includes EMV-ready fuel dispensers, LED lighting, car washes, security systems, DEF dispensing equipment and other in-store equipment needs.
“We also help operators cover the related costs of installation, freight and sales tax,” Cerminaro said. “Our goal is to minimize the red tape business owners face and provide the flexibility they need to run their businesses.”