Private College Lease Program
The Private College Lease Program was designed to help finance fungible assets, such as computers, software, telephone systems, fiber optics, or other assets with a short capital life. Under the program, IHELA is the “issuer” of the debt evidenced by the note and the participating college is the actual borrower through the use of a lease/purchase agreement.
The terms of the program are flexible in regard to frequency of payments, starting date of payments (a deferred first payment option is available), and in length of repayment term. Interest rates are fixed at market rates at the time of loan closing. Because the notes are purchased by the underwriter and distributed through their internal selling mechanism, the IHELA lease program offers a more streamlined loan process. The institution enjoys a smoother application and loan closing process, reduced requirements for institutional information and data, no letter-of-credit requirements, no required collateralization beyond the equipment being financed, and no ongoing annual fees. To take advantage of the Private College Lease Program, please complete and submit the attached financing application.