Dear Perspective Applicant,
It is our pleasure to offer you the Authority’s “EZ Quip” equipment loan program for nonprofit, 501(c)3 health care providers in Washington. The Program was development with an eye toward making it easy to understand and speedy for you to use.
Financing capital equipment projects can be done cost effectively, simply and quickly through the Authority EZ Quip program. The program is an alternative to expensive, taxable vendor or commercial lease financing for short and medium term projects ranging from $500,000 to $10 million. By financing through the EZ Quip program, nonprofit health care providers can save thousands of dollars in interest costs over the life of the lease
EZ Quip fees have been structured to make the program highly competitive and very cost effective for loans as low as $500,000. A loan can be completed in as little as eight to ten weeks from time of application acceptance to funding of the loan.
The concept of the loan program is very simple. You make a list of the equipment you want, cost of the equipment and terms of repayment. We prepare a bid package which includes the equipment list, standardized loan documents, and information regarding the borrower, and then bid the loan out to a number of typical loan purchasers. You review the resulting bids and select the winner.