Brief description of program
Program Loans for Leaking Storage Tank Systems provide a source of low interest financing for protecting the State's groundwater supplies by rehabilitating underground storage tank systems. This program is managed jointly by DNREC Environmental Finance and the Division of Waste & Hazardous Substances. Eligibility is open to owners or lessees of underground storage tank facilities that need rehabilitation in order to meet regulatory requirements and where the applicant demonstrates the ability to repay the loan.
Financing is available at an interest rate of 3 percent, for seven to 10 years, with a minimum loan of $5,000 and a maximum loan of $250,000, for the following eligible activities:
• Upgrade and/or retrofit of underground storage tank systems to include the installation of leak detection, spill containment, overflow protection, and/or corrosion protection on any underground storage tank system.
• Removal or abandonment of underground storage tank systems.
• Maintenance and monitoring of contaminated project sites.
• Remediation of sites contaminated as a result of a release from an underground storage tank system.
• Investigation and assessment of contaminated sites.
• Restoration or replacement of potable water supplies.
• Emergency response and initial site hazard mitigation.
The application funding process is available in a free brochure provided by the Division of Waste & Hazardous Substances. Click here for application forms.
Program Manager: Jill Hall
Tank Management Section
Division of Waste & Hazardous Substances