Leasing Programs

Master Equipment Leasing Program

The Treasury Board is responsible for the operation and administration of the Master Equipment Lease Program for the lease financing of personal property by State agencies and institutions. Personal property is defined as new or reconditioned tangible personal property and includes personal property to be affixed to realty. The program is also used to finance energy efficiency projects. Under the Program, the Treasury Board procures a line of credit from financing companies under the terms of a Master Lease Agreement under which individual agencies and institutions can finance equipment over 3, 5, 7 and 10-year terms. Agencies are responsible for lease payments to the finance company from their biennial appropriations. The consolidation of lease purchasing under this Program results in a lower interest costs for agencies than would otherwise be possible if agencies individually entered into leasing arrangements. Section 2.2-2417 of the Code provides the statutory authority for this Program.

Energy Leasing Program

The Treasury Board is responsible for the operation and administration of the Energy Lease Program. The Energy Leasing Program enables Commonwealth agencies to obtain consistent and competitive credit terms for financing energy efficiency improvements. The program provides a financing vehicle for qualifying energy projects that the using agency has evaluated and determined to be appropriate and cost effective. Under the Program, the Treasury Board procures a line of credit from financing companies under the terms of a Master Lease Agreement under which individual agencies and institutions can finance the energy efficiency projects over 12 and 15-year terms. Agencies are responsible for lease payments to the finance company from their biennial appropriations. The consolidation of lease purchasing under this Program results in a lower interest costs for agencies than would otherwise be possible if agencies individually entered into leasing arrangements. Section 2.2- 2417 of the Code provides the statutory authority for this Program.

Interest Rates Effective Through 6/1/2018

Master Equipment Leasing Program Rates

3 Year Term - Monthy 2.2926%
5 Year Term - Monthy 2.3439%
7 Year Term - Monthy 2.3650%
10 Year Term - Monthy 2.4569%

Energy Leasing Program Rates

12 Year Term 2.8512%
15 Year Term 2.8917%

Please contact Treasury Staff at PH: (804) 225-2268 for additional interest rates offered through the Master Equipment Leasing Program.

Staff Contacts

Leslie M. English Sandra E. Stanley
Public Finance Manager
Department of the Treasury
P.O. Box 1879
Richmond, VA 23218-1879
PH: (804) 371-0341
Senior Public Finance Analyst
Department of the Treasury
P.O. Box 1879
Richmond, VA 23218-1879
PH: (804) 225-2268