Capital Match Revolving Loan Fund (Amoco Loan)
Forecasted
The Capital Match Revolving Loan Fund (Amoco Loan) from the Iowa Department of Transportation provides revolving loans to help Iowa transit systems meet local match needs for capital projects.
Funder: Iowa Department of Transportation
Due Dates: Rolling
Funding Amounts: Loan amounts vary; funds are provided as revolving loans to cover local match requirements for transit capital projects.
Summary: Provides revolving loans to Iowa public transit systems to help secure local matching funds for capital projects, expediting project implementation.
Description
The Capital Match Revolving Loan Fund (Amoco Loan) is a program of the Iowa Department of Transportation designed to help public transit systems across Iowa obtain the local matching funds required to leverage federal or state capital assistance for transit projects. By offering revolving loans, the program accelerates the delivery of capital projects that support energy conservation and improve public transit infrastructure statewide. The fund was established in the early 1980s using proceeds from Iowa’s share of the federal petroleum overcharge settlement with the American Oil Co. (Amoco).
