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Internal Loan Guidelines


  • Internal loans may be approved for major equipment purchases, construction projects, or other approved uses.
  • Internal loans are initiated through the Treasury Office using the Internal Loan Request Form (Excel).
  • Internal loans require approval by the Vice President for Finance and Administration, Executive Vice President and Provost, and President.
  • The Treasury Office will create the loan amortization schedules and maintain fully-executed request forms.


  • The loan term cannot exceed the useful life of the asset being financed or any associated tax-exempt financing period (whichever is less).
  • The term for a gift bridge loan should coincide with the gift agreement/payment schedule, not to exceed five years.
  • Departments will be charged principal and interest quarterly based on the amortization schedules.  Entries will be recorded by the Treasury Office.
  • Early payoff is permitted.  Interest will be charged on the outstanding loan balance until the loan is paid in full.

Interest Rates

  • Interest rates are variable over the life of the loan but will be fixed for each fiscal year.
  • Interest rates are based on the blended cost of capital.
  • If the published interest rate changes, revised amortization schedules will be prepared and distributed for all outstanding loans.