The Community Aviation Revitalization Board (CARB) has been appropriated another $5 million for the 2023-2025 biennium and is accepting applications to award funding in September.

The Board recently increased the maximum loan amount to $1,200,000 while still retaining a low 2% fixed interest rate. Loans can have a maximum 20-year loan period and recipients can opt to have up to a 3-year loan repayment grace period.  Loan recipients must commit to provide public access to the airport for a period of time equivalent to one and one-half times the term of the loan.

The primary purpose of the revolving loan program is to fund revenue-producing or cost-cutting capital projects that assist public-use, general aviation airports to become more self-sustainable. Eligible projects can include hangars, fueling facilities, business parks on airport property, paid parking facilities, passenger amenities, green energy enhancements, and other revenue-generating or cost-cutting developments. The initial deadline for applications is August 1, 2023.

For an application or more information, contact Dave Chenaur, Aviation Loan Program Manager at chenaud@wsdot.wa.gov or 360-628-1767 (cell).  The loan application and other loan program information is also posted on WSDOT Aviation's website.