Stay Ahead of the 2021 Registration Ban 

California policy makers have implemented tough emissions standards with tightening restrictions for all diesel-powered vehicles over 14,000 Gross Vehicle Weight Rating (GVWR) operating in the state. Truck operators across California are scrambling to find a compliance pathway prior to having their registration denied. Fleets running medium to heavy duty trucks that do not meet the new emissions standards will not be able to register vehicles come January 1, 2021.

While several thousand fleets have already experienced registration holds for non-compliance, several thousand more currently meet the standards but will see their registration rejected in 2021. Crossroads has helped these fleet and truck operators upgrade their equipment and secure grant approvals for truck replacement with attractive financing terms. We can help fleets find the right program, get the necessary approvals, and navigate a fast and easy path to securing a newer truck with competitive rates and flexible terms. 

California Capital Access Program (CalCAP)

CalCAP offers Crossroads a mechanism to provide loans to small businesses that may not otherwise be able to get a loan. With CalCAP's portfolio insurance, Crossroads is able to cover portions of loans that exceed the risk threshold normally set for most business loans. CalCAP's flexibility includes:

  • With very few exclusions, virtually any business loan is eligible under CalCAP.
  • CalCAP provides insurance to Crossroads' portfolio of loans. Funds are placed in a loss reserve account as each CalCAP loan is enrolled.
  • CalCAP allows Crossroads to cover loans beyond its conventional risk threshold whether it is for all of a loan or only a portion.
  • Crossroads can restructure loans by extending the terms of CalCAP loans, amending covenants or releasing collateral.

Company Qualifications

  • 100 or less employees
  • 10 or less trucks / $2,500,000 max loan amount
  • $10 million or less in revenue (this is an average of the last three years)
  • Must conduct more than 50% of business in California

Truck Qualifications

  • On Road Diesel, Alternative Fuel or Battery Electric
  • Greater than 14,000 lbs. GVWR
  • 2010 or Newer Replacement Engine
  • Must be base plated in California
  • VIP, Prop 1B and VW Grant Funds Eligible
  • All Truck On-Road Types: Tractors, Yard Goats, Tow Trucks, Straight Trucks, Transfers, Dump etc.

Trailer Qualifications

  • Trailers are eligible if purchased in conjunction with a 2010 compliant engine
  • All Trailer Types: Regular box, Car carrier, Refrigerated unit, Liquid tanker

DMV Compliance

The Truck and Bus Regulation is California law. Legislation passed in 2017 requires that the California Department of Motor Vehicles(DMV) check that vehicles are compliant with, or exempt from, the Regulation. If a vehicle is not compliant with the rule, DMV can no longer register that vehicle.

Frequently Asked Questions

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Sharon Vega is a Business Development Manager with Crossroads since March 2020. Sharon has over 3 years experience in commercial truck financing, including Sales, Docs and Funding. Her knowledge and experience in transportation finance make Sharon a valuable member of the Crossroads team.