Fire departments can now borrow more money

By Kelsey Gibbs |

Published 06/23 2014 06:15PM

Updated 06/24 2014 10:46AM

SHERMAN -- More money is now available to help departments buy new trucks which can cost anywhere from $250,000 - $1 million. WCIA-3's Kelsey Gibbs explains.

Just last year, the Sherman Volunteer Fire Department was in desperate need for a new one. These trucks may look great, but as they get older, they become more of a maintenance problem.

The village paid $100,000 for a new truck, but that didn't even cover half of the cost. This tanker was $296,000 when it was purchased in 2013. The rest was covered by the Fire Truck Revolving Loan Program.

"We applied to the State Fire Marshal's office to receive one of the low-interest or, excuse me, the zero-interest loans through the revolving loan program."

These loans help departments purchase equipment and don't charge interest. The program now let's departments borrow $350,000; that's $100,000 more than previously.

It's an amount Sherman Fire Chief Todd Masterhan says can really help small districts.

"By raising the limit on the amount of money that the districts can borrow, or even the municipalities can borrow, will do nothing but help the department and districts out."

That bill now takes affect immediately. The loan includes fire trucks, engines and brush trucks.

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