Wisconsin Department of Commerce Newsletter
February 2005
Need Help in Getting a PECFA Loan?

"You may have noticed in the past couple of years, that it has been somewhat more difficult to obtain a PECFA cleanup loan," says Berni Mattsson, administrator of the Environmental and Regulatory Services division at Commerce. "Lenders that previously extended their services to include PECFA loans are slowly fading off into the horizon, thus making it harder for site owners to obtain financing for petroleum cleanups."

As a result, PECFA conducted a survey of all lenders that at one time or another had participated in the PECFA loan assignment process. Says Mattsson, "Our goal was to find out which lenders would still be potentially interested in writing PECFA loans so we could establish a list for owners and consultants to use. The responses we received were somewhat surprising however. Of 475 previously participating lenders, only 27 returned a positive response indicating they would still consider writing PECFA loans. Although 27 may not seem like a lot, it has proven useful in having this list available."

You can find the list on the PECFA web page at: commerce.wi.gov/ERpdf/ER-PECFA-Lender_List_Yes_5-10-04.pdf.

Concludes Mattsson, "While we cannot guarantee that if you approach a lender on this list about a PECFA loan that they will grant it, however, it is a good starting place for owners needing assistance in financing their cleanup. We strive to maintain a good working relationship with these lenders and if necessary the Department may act as a liaison between the lender and the owner to ensure sites don't stall and cleanups keep moving towards closure."

--Berni Mattsson

The newsletter is issued electronically every other month.

Please send comments or questions to Barbro McGinn, editor.

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