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Project resources

Financing that supports the purchase—not the other way around

Financing can align an essential project with budget timing. MIPS keeps the purchasing record organized while the member and financing provider establish a separate financing agreement.

Match cost to useful life

Evaluate whether spreading payments over the useful life of equipment or infrastructure is appropriate for the member’s budget.

Preserve available cash

Consider financing when a necessary project exceeds current cash capacity or needs to be coordinated across budget periods.

Deliver a complete project

Keep equipment, implementation, installation, training, and approved services visible in one project scope.

A sound review

Compare the whole obligation.

Compare financing proposals using the same project scope and timeline, with the payment schedule, term, rate, fees, and total cost side by side.

  1. 01

    Define the complete project

    Establish equipment, services, freight, installation, training, contingencies, and timing before comparing payment structures.

  2. 02

    Connect the proposal and contract

    Link the vendor’s complete proposal, awarded contract, and supporting documents to the project.

  3. 03

    Compare total cost

    Review term, rate, fees, payment timing, prepayment terms, security interests, and the total amount paid—not only the periodic payment.

  4. 04

    Route every required approval

    Keep financing documents with the requisition and obtain the member’s fiscal, legal, board, and purchasing approvals as applicable.

Documents that belong with the requisition

  • • Complete vendor proposal and cooperative contract reference
  • • Financing quote, amortization or payment schedule, and material terms
  • • Budget source, useful-life rationale, and total-cost comparison
  • • Required fiscal, legal, governing-board, and purchasing approvals

What MIPS’s role is

MIPS helps organize the project, contract, quote, approval, and financing records and can identify financing resources. The member and financing provider establish the financing agreement and payment schedule, which stay connected to the purchasing record.

Planning a project that may require financing?

Start with the full project scope and purchasing path. Financing comes after the need is clear.

Discuss the project