The Safety Loan Program is an affordable and reliable way for cities to fund safety improvements. The program means cities don't have to choose between tight budgets and simple, effective decisions that protect city staff.
This program allows cities to make improvements in one year and spread the costs across several budget years. The program's single point of entry saves your city legal and bond counsel costs.
Safety Loan Program funds must be used to purchase equipment. Some cities have used funds in innovative ways. For instance, one city purchased ergonomic equipment to reduce employee injuries resulting from lifting nursing home patients, and another made safety improvements to bleachers at a municipal ball field.
Funds available through the Safety Loan Program are the same as general obligation notes and comply with city borrowing authority. Interest rates are equal to U.S. Treasury note rates plus 30 basis points. Funding can be used for:
Personal Protective Equipment
Fire Suppression/Detection Equipment
Job Site Safety Equipment