The university implemented an internal lease (loan) program for departments to purchase equipment and to pay for the equipment in installments. This program was established to assist departments in purchasing equipment instead of entering into expensive external lease agreements.
| Terms | |
|---|---|
| Interest rate |
5.25% for FY 2013, 5.50% for FY 2014, and 6.0% for FY 2015 |
| Repayment period |
Repayment period is based on the life of the asset and the amount of funds borrowed. See University Policy 3.9, Capital Assets, Appendix A. |
| Procedures | Please use the online form below. If you have any questions or recommendations, please contact Carolann Saggese, Director, Debt (607) 254-1591. Note: A unit representative with external transaction authority for the dollar amount of the purchase is required to sign the lease agreement. |
