On March 29th 2000, the University financed the Pool Loan Program through the issuance of $40,000,000 variable rate bonds to provide the University campuses with tax-exempt financing for the acquisition of capital equipment. The bonds have since been remarketed and the program has been reduced to $20,000,000.

A campus can finance or refinance the acquisition of telecommunications, electronic, computer, office, research, equipment, and administrative systems and the renovation costs related thereto.

Benefits

  • Flexibility;
  • Stable low-cost financing;
  • Current fixed-rate*of 3.75% ;
  • Quick turnaround time;

Examples of Eligible Acquisitions

  • Major upgrades to existing software;
  • Telephone systems & upgrades;
  • Video conferencing equipment;
  • Athletic equipment;
  • Vehicles;
  • Snow blowers and tractors;
  • Research equipment;
  • Office equipment and furniture.

Related Expenses

The following costs are pool eligible only if directly related to the implementation and acquisition of the capital equipment:

  • Training;
  • Consulting;
  • Travel;
  • Installation;
  • Renovation;
  • Construction expenses.

The following costs are NOT eligible:

  • Maintenance and support costs;
  • Basic upgrades and/or minor enhancements to an already existing system.

Terms and Conditions

  • Loans are structured as reimbursements.
  • Loans are typically amortized from one to ten years.
  • Loans can not be issued for longer than the useful life of the capital equipment being financed.
  • Monthly interest and quarterly principal payments are coordinated by the University Controller’s Office.
  • No Private Business Use of the financed equipment.
  • Campuses will complete an Annual Private Business Use Compliance Questionnaire for all outstanding pool loans.
  • The University Budget Office retains the right to disallow any item for inclusion in the Pool Loan Program.

Campus Access to Pool Loans

Submit a pool loan questionnaire, requisition, copies of invoices, and proof of payment to the University Budget Office. Upon approval, pool funds can be transferred to the campus within 24 to 48 hours. 

To obtain a pool loan questionnaire and requisition, please contact Joseph Skrzek.