Santos is a commercial truck driver based out of the Port of Oakland. After purchasing his own diesel engine semi-truck, he’s been in business for himself for one year.
A few months ago, however, Santos was faced with the challenge of finding money to retrofit his truck to comply with new California Environmental Protection Agency (EPA) emissions regulations. Without the expensive engine retrofit, he will be locked out from the Port of Oakland and forced to stop driving. “When the new regulations went into effect, I couldn’t believe how much the retrofit on my truck was going to cost! I thought I would need to sell my truck or move to another state that has easier emissions regulations in order to stay in business.”
Santos is grateful that he was referred to Opportunity Fund as an alternative source of funding. As a self-employed trucker, his income is modest and his ability to access capital through traditional financing is limited - but his livelihood depends on keeping his truck in compliance and on the road. A $7,000 loan through Opportunity Fund, combined with a grant from the EPA, gives him the chance to keep working.
Santos is confident that he will be prepared to adjust to tighter EPA emissions regulations in the future. “With two more years of work I will have saved enough to afford new equipment, and maybe even a new truck.”
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