County Utility Loan Program
Program
The County Utility Loan Program (CULP) is a revolving
loan fund designed to assist cities, mutual water
companies, or water districts finance improvements to
their water delivery systems.
Use of Funds
Loan amounts range from $25,000 to $1,000,000. Loan
proceeds may be used to increase service delivery and
capacity, finance seismic upgrades for hazard mitigation,
increase reclamation or assist in wastewater projects.
Loan Amounts Loan amounts range from $25,000 to $1,000,000.
Interest Rate
The interest rate is fixed, at six percent (6.00%) per
annum.
Term
Repayment terms will be generally based on the useful
life of the assets being financed, and the borrower’s
ability to repay. The useful lives are 7 years for working
capital and up to 20 years for equipment or infrastructure.
Collateral
Applicants must be willing to pledge collateral owned by
the business of its principals to secure loan proceeds.
Eligibility
Loans are available to cities located within Los Angeles
County.
Contact
Iris Alvarado, CBELP Administrator
Office: 626.586.1795
Fax:
626.943.3815
E-mail: iris.alvarado@lacdc.org
Rodolfo Quiroz, Loan Officer
Office: 626.586-1820
Fax:
626.943-3815
E-mail: rodolfo.quiroz@lacdc.org