Loan Programs In Okla. Are Supporting NGV Conversions

According to a report from NewsOK.com, the website of newspaper The Oklahoman, a handful of financial institutions in greater Oklahoma City are now offering loans designed specifically to help customers begin driving natural gas vehicles (NGVs).

Communication Federal Credit Union, Citizens Bank of Edmond and Allegiance Credit Union have each instituted programs to support compressed natural gas (CNG) vehicle conversions. Some of the loan products are tailored to commercial entities, and others are tailored to individuals.

Stephen Lark, a vice president at Communication Federal, told NewsOK.com that interest rates for new CNG vehicle purchases start around 2%. Programs such as these, coupled with the state's strong incentives for NGVs, are hoped to drive even higher adoption of natural gas-fueled transportation in Oklahoma.

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