Are you financially
ready to participate in the Port of Baltimore Dray Truck Replacement Program?
To complete your application you must provide a letter showing you have been pre-approved for a loan to cover the remaining cost of the new truck.
Below you will find a
list of questions that are commonly asked by financial institutions when
reviewing financing applications. We are not asking you to supply this
information to the program,
but please consider these questions before you choose to pursue participating
in the Dray Truck Replacement Program.
- Have you had a bankruptcy within the last 4 years?
- Do you have a
foreclosure or lien in your recent financial history?
- Do you have an open federal tax lien?
- Do you have a prior
repossession in your past?
- Is your credit score below 600?
- Do you consistently pay
Please note that
answering yes to any or all of these questions may impact your chance of
obtaining financing, but ultimately that decision is up to the financing
Enrolling in the program may take a considerable amount of your personal time and effort. The estimated time to complete all preliminary steps for the Truck Program is approximately 2 to 3 hours of your time for paperwork and phone calls with program staff.
Obtaining a loan in order to purchase a new truck will also involve hours of your time. Approval of financing is solely the decision of the financial institutions and is generally based upon your credit report and credit score. A credit report is a record of your credit history. Other factors may be reviewed by the financial institution before financing is approved.
This program is made possible by the United States Environmental Protection Agency, the Maryland Port Administration and the Maryland Environmental Service
© 2016 EcoLogix Group, Inc.