Tax-Exempt Equipment Financing Program
The Authority recognizes that health facilities utilize a variety of equipment in every day operations, and that the financing can add considerably to the overall cost of equipment purchases.
Thus, the authority has established the program to provide health facilities with access to tax-exempt fixed rate financing for their equipment purchases.
A borrower under the program may fund qualifying equipment purchases of $500,000 or more. The maturity of the loan must be related to the useful life of the equipment to be financed. Notes issued through the program will be collateralized by the equipment that is purchased.
Funds may be used to purchase or reimburse all types of qualifying equipment by an eligible health facility, including but not limited to medical and diagnostic equipment, computers, and telecommunications equipment.
Funds may also be used to finance minor equipment installation costs.