EPA Partners with ibank.com to connect Truckers with Green Vendors and Lenders

iBank.com connects truckers, truck stop owners and locomotive owners to an online network of SmartWay certified vendors and financing solutions for low-emission, fuel-efficient technologies

COSTA MESA, CALIF., AUGUST 25, 2009–The federal government’s Cash for Clunkers program is making headlines—but consumers aren’t the only ones who need help financing lower-emission, fuel-efficient vehicles.

iBank.com is helping independent owner-operator commercial truckers, truck stop owners and locomotive owners connect online and in real-time with SmartWay certified products and services, which are proven to lower emissions, and matching them with a nationwide network of financing sources to help them finance the purchase of these innovative clean-air technologies.

SmartWay Finance Center (www.smartwayfinance.com), developed by iBank.com for The U.S. Environmental Protection Agency’s SmartWay Transport Partnership, helps truckers to purchase SmartWay certified trailers and tractors; automatic tire inflation systems; low rolling resistance tires; and idle reduction technologies including thermal storage systems, fuel operated heaters, battery powered air conditioning systems and auxiliary power units. These technologies, which reduce gas consumption and lower emissions, typically cost between $8,000 and $15,000. By visiting SmartWay Finance Center (powered by iBank) online, users can instantly locate the right financing sources nationwide, 24/7/365.

Potential truck or truck equipment buyers pick their vendor product(s) and submit an application for an approved vehicle or technology to the vendor(s); interested lenders for this type of equipment are identified instantly. The potential truck or truck equipment buyers can call, e-mail or submit a financing application online to receive competitive rate and term offers from the lenders. Applicants decide which lenders they want to work with, and applicant and lender discuss the specific terms and conditions of each loan or lease.

Since iBank launched SmartWay Finance Center in 2008, 3,094 loan applications and 750 leasing applications have been submitted to the nationwide lender network, with over 80 percent connectivity to lenders. The EPA has just renewed iBank’s contract for three more years.

“The visionaries at the EPA get it: Give truckers 24-hour access to their Web site to locate SmartWay certified vendors and a network of financing resources for an exceptional user experience. Everyone wins–the trucker, the vendor, the lender, the EPA and, most importantly, our planet,” says iBank CEO Tom Markel. “We at iBank are driven every day by our mission: ‘making small business happen.’ Now, we are getting government and private enterprise to work together to make lower emissions happen and create a greener earth.”

The SmartWay Transport Partnership is a voluntary partnership between various freight industry sectors and EPA that establishes incentives for fuel efficiency improvements and greenhouse gas emissions reductions. By 2012, the initiative aims to reduce carbon dioxide (CO2) emissions by 33 million to 66 million metric tons annually, and to reduce nitrogen oxide (NOx) emissions by up to 200,000 tons annually. The initiative will result in fuel savings of up to 150 million barrels of oil annually.

For additional information or to speak with Tom Markel, contact Tom Markel III at (949) 265-5764 or t3@ibank.com.

ABOUT IBANK.com: Founded in 2004, iBank.com—“the information bank for small business”—is America’s largest online network of small-business members. iBank.com has 450,000 small-business members and adds 7,000 new members monthly. With a library of information on how to run a business, more than 1,200 registered professional online service providers (lenders, insurance agents, consultants, lawyers and accountants) and a directory of discounted proven products and service vendors, iBank.com delivers on its mission: “Making small business happen.” iBank.com’s managed services help the small business create professional business plans for equity and debt financing, perform online bookkeeping and tax services, file state and federal business paperwork, and create Web sites that drive new visitors.

CONTACT:
Tom Markel III
Vice President of Enterprise Partners
iBank
(949) 265-5764
t3@ibank.com
www.ibank.com

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