Low Interest Loans
The low interest loan program is available for any volunteer fire department that meets the training requirements and is in good standing to receive state aid as per KRS 95A. The department must have received State Aid for the past three (3) consecutive years, and cannot obtain a loan from a conventional financial institution at the rate of 3% per annum. Volunteer fire departments can borrow up to one hundred twenty-five thousand dollars ($125,000).
Loans can be requested for:
- Apparatus
- Communications Equipment
- Accessory Equipment
- Protective Equipment
- Construction of new facilities or modernization of existing facilities
- Repair or rehabilitation of apparatus
Loans cannot be used for:
- Investment purposes
- Acquisition of existing facilities
- Operating expenses
- To reduce debt or other obligation incurred prior to Loan Commitment letter
- Payment of fees for designing or planning of facilities or preparation of application
The interest rate for a Fire Commission low interest loan is three percent (3%). The
fire department must agree to maintain State Aid qualifications and obligate State
Aid as payment throughout duration of the loan. All equipment purchased must meet
current N.F.P.A standards at the time it was manufactured.
Apparatus purchase or rehabilitated apparatus or facilities or additions to facilities financed by this loan program shall be titled in the name of the volunteer fire department or the name of the political subdivision with the Fire Commission listed as a lien holder of the property.
Loans will be granted in order of need and availability of funds for each qualifying volunteer fire department. If interested in applying, please fill out and submit the appropriate forms to fcloans@kctcs.edu.
Repayment Schedule
$5,000.00 to $10,000.00 3 year term
$10,001.00 to $25,000.00 5 year term
$25,001.00 to $35,000.00 7 year term
$35,001.00 to $45,000.00 8 year term
$45,001.00 to $55,000.00 9 year term
$55,001.00 to $65,000.00 11 year term
$65,001.00 to $75,000.00 12 year term
$75,001.00 to $125,000.00 15 year term
Application deadlines
In order for loan applications to be submitted to the loan committee for review at the next Fire Commission meeting, all required documents must be submitted on or before the posted deadlines:
- Feb. 7, 2025
- Apr. 3, 2025
- May 29, 2025
- Jul. 17, 2025
- Oct. 1, 2025
- Nov. 19, 2025
Questions regarding the Low Interest Loan Program should be directed via email to fcloans@kctcs.edu or via telephone at (859) 256-3180.
Forms
Please use the corresponding checklist to ensure that all required documents are gathered for the application process.
Checklist - Apparatus
Checklist - Building
Checklist - Equipment
Low Interest Loan Application
Vehicle Inspection Report
