PRINCETON — Princeton Fire Department is receiving a $200,000 loan through a state ambulance revolving loan program, according to a state press release Wednesday.
Illinois State Fire Marshal Matt Perez and Illinois Finance Authority (IFA) Executive Director Christopher Meister issued over $9.3 million in no interest or low interest loans to emergency responders across the state.
Princeton Fire Department will use the extremely low-interest loan to replace a 2007 ambulance that had a lot of wear and tear and was starting to have maintenance issues. The department applied for the loan in hopes of trading the older ambulance for a new one.
Under the ARLP program, units of local government (city, town, village, township, fire department, fire protection district) and not-for-profit ambulance service providers can apply for no interest or low interest loans of up to $200,000. These loans must be paid back in 10 years.
ä Also, Annawan is receiving $350,000 through the fire truck revolving loan fund.