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Zero Emission Vehicles Loan Program (Fleet Electrification)
Illinois Climate Bank / IFA — funded by U.S. EPA Climate Pollution Reduction Grants (CPRG)See programDeadline: Program under development as of 2026-04-25 — not yet accepting applications.
Loan program funded by the U.S. EPA Climate Pollution Reduction Grants designed to bridge the financing gap for small- and medium-sized fleet operators converting to zero-emission vehicles. Especially targeted at borrowers who cannot benefit from tax credits or lack access to traditional commercial loans. May include third-party ownership or lease-to-buy structures for tax-credit-ineligible borrowers. Helps fleets electrify before 45W (Commercial Clean Vehicle Credit) was terminated by OBBBA on 9/30/2025.
Program details
- Agency
- Illinois Climate Bank / IFA — funded by U.S. EPA Climate Pollution Reduction Grants (CPRG)
- Level
- State
- Category
- Fleet Electrification Loan
- Eligibility
- Small and medium-sized fleet operators, commercial entities, municipal governments, educational institutions, and nonprofits transitioning on-road or off-road fleets to zero-emission technologies. Priority for borrowers ineligible for tax credits or facing liquidity challenges from incentive payment timing. Eligible technologies: medium- and heavy-duty on-road and off-road electric or other zero-emission vehicles.
- Funding Amount
- Specific loan amounts pending program launch. Targeted at small- and medium-sized fleet operators that cannot access commercial loans or take advantage of tax credits. May include third-party ownership or lease-to-buy structures.
- Deadline
- Program under development as of 2026-04-25 — not yet accepting applications.
- Status
- upcoming
- Geographic Scope
- Illinois only
- Project Types
- fleet_electrification, commercial_ev
- Client Types
- commercial, fleet_operator, nonprofit, municipal, educational
- Notes
- Subscribe to IL Climate Bank newsletter for launch announcement. Program is critical post-45W termination — surfaces in chat for any fleet electrification query as the IL replacement for the lost federal commercial EV credit. Pairs with: 30C (charger install, until 6/30/2026), VW Settlement Round 9, IL Climate Bank Heavy Duty Charging Loan Program, federal NEVI/CFI corridor charging.
Source: Grantya research. Confirm current terms with the administering agency before applying.