RIHEBC Equipment Loan Program Description
Purpose - To finance the acquisition of equipment and other shorter-lived assets.
Eligibility - 501(c)(3) healthcare and educational institution.
Process - Application and one board approval.
Documents - Standard program docs are required to be used.
Loan terms - Determined based upon the useful life of the asset being purchased and further determined by the lending institution.
Lenders - Various local and regional banks will be asked to bid on these financings. RIHEBC will not lend its own funds.
RIHEBC’s equipment financing program uses standardized program documents (including requirements for legal opinions and Bond Counsel diligence requests)