The University's Revolving Loan Program

The Pool program allows the Budget Office to loan and reloan Pool funds to the campuses and the University President’s Office over the next twenty-five years. The University created the program through the issuance of $40,000,000 seven-day variable rate bonds maturing November 1, 2030, through the Massachusetts Health and Educational Facilities Authority  (now MassDevelopment). The bonds have since been remarketed three times with only $20,000,000 outstanding.

The Pool program allows the Budget Office to loan and reloan Pool funds to the campuses and the University President’s Office over the next twenty-five years. The University created the program through the issuance of $40,000,000 seven-day variable rate bonds maturing November 1, 2030, through the Massachusetts Health and Educational Facilities Authority  (now MassDevelopment). The bonds have since been remarketed three times with only $20,000,000 outstanding.  The Pool Program is a flexible, low-cost financing mechanism that reduces the cost and time involved in purchase-specific borrowing at the campuses and in the President’s Office. With a completed requisition and supporting documentation, a low fixed rate loan may be obtained through this program with no closing costs. Campus and budget office authorization is required.

For More Information

Feel free to contact Joseph Skrzek in the Budget Office to request a brochure at jskrzek@umassp.edu or (774) 455-7587.