Frequently Asked Questions


What is RIHEBC?

Established by Rhode Island General Assembly in 1966, RIHEBC ("the Corporation") was created to provide non-profit educational and healthcare providers with access to low cost affordable capital financing for their capital projects through the sale of tax-exempt bonds.

 

How long does the process take and what does it cost?

For qualified borrower the process can take between 90-120 days. Because it is tax-exempt financing the initial cost are higher than a commercial loan, however in most cases the difference is recouped within two years due to the savings in interest expense.

 

Why is tax-free financing an attractive option for the non-profit borrower?

The interest rate on tax-exempt financing is normally lower then commercial financing and it can be for a longer term making it an attractive alternative to commercial borrowing.

 

What kinds of institutions can apply to the Corporation for tax-exempt financing?

  • Not for profit, hospitals, nursing home facilities, health care services, health centers and rehabilitation centers.
  • Private, not for profit, non sectarian colleges and universities, community colleges, elementary and secondary schools, charter schools and public schools.



Are the requirements for refinancing the same as for new financing?

The conditions are the same, yet the procedure may vary depending on the nature of the project.


How do I receive more information and apply for financing?


Please contact our office by phone 401-831-3770 or email at info@rihebc.com.