The University makes two types of loans to departments, typically for capital projects:
Loans for capital projects that are equal to or less than $2.5 million require the approval of the Executive Vice-President, and
Loans for capital projects that are over $2.5 million require approval by the Board of Trustees. Please note that the Executive Vice President may approve loans up to $5 million for non-capital projects.
If your department would like to request a loan from the University, please fill out the Working Capital Loan Form with all required information. Forward the completed form to the Treasury Operations office for review and it will be circulated for the appropriate approvals. You will likely be contacted by Treasury Operations or Dr. Trask’s office for additional information pertaining to the project you would like to fund.
All loans are assigned the University’s blended rate cost of capital which can change annually.
If your loan is approved, you will receive a corresponding loan agreement which we will ask that you sign before receiving the funds.
If you have any questions about these loans, please call Treasury Operations at (919) 684-5148.