NatLUST
From our customers:
"Gabriel Labs has been helping me manage our facilities waste water issues for over 20 years now – throughout this time they have been highly responsive to all of our issues, their knowledge of the policies and methodologies of the MWRDGC has been invaluable in managing our waste water costs resulting in some rather significant saving."
Albert Maronta
Ferrara Pan Candy Co.
Gabriel works with NatLUST to close your site and get funding more quickly. NatLUST provides liquidity using a simple financing technique. Rather than lending money to tank owners, NatLUST purchases the owner's approved claims using a "two-step" payment process, paying either the tank owner or Gabriel as directed.
Step One: When a particular phase of a project is completed and the claim reimbursement application prepared, the owner sells the claim to NatLUST concurrent with the claim being submitted to the state environmental agency for processing and approval. The tank owners will indicate on the assignment form whether they are electing to use the Direct Pay feature.
Immediately upon the claim being approved by the state agency, NatLUST will issue an "initial" payment, typically a large percentage of the amount approved (ex. 92%+ of the amount approved would be typical for Illinois where the fund's payment delay is 18 months or less).
Step Two: When the claim is eventually reimbursed, NatLUST will receive the reimbursement directly from the LUST fund, at which point NatLUST will remit the 8% balance owed, less the accrued carrying costs, in the form of a second, "Residual" payment.
The benefits of Gabriel working with NatLUST
Inexpensive – NatLUST financing is likely materially less expensive than bank financing, and available to all tank owners, irrespective of their financial position. Tank owners who have borrowed money to finance clean ups will be able to repay their banks, in effect freeing up capital that they can use for business expansion.
Accounting Benefits – NatLUST's nonrecourse funding and Direct Pay features may allow certain tank owners to reduce or even eliminate the need to include reimbursable items in their annual environmental liability reserve calculations.
Accelerating Clean-Up Program – NatLUST financing may allow tank owners to accelerate their clean- up programs, potentially generating cost savings.
Goodwill Benefits – By accelerating their clean-up programs, tank owners may foster better relations with regulatory agencies.