Morgan State University Network Infrastructure
Morgan State University Network Infrastructure was outdated by 12-14 years old and no longer serviced by a vendor. With the help of an IT consultant, the University procured the services of a vendor capable of providing a comprehensive turnkey network overhaul, and additionally provided a tax-exempt financing arrangement to finance the work.
The vendor and the University partnered with Grant Capital Management to structure a tax-exempt financing solution. The University not only needed a competitive interest rate, but more importantly, they needed to finance over a 10-year period in order to keep annual costs low.
Grant Capital Management was the only financier willing to structure a 10-year term for the University for the network upgrade. Today, Morgan State University serves as a model to other Universities for their campus-wide network.
“Our network upgrade project was really at a standstill until Grant Capital management got involved. Budget constraints did not allow for us to pay for the project and most traditional lenders could provide term lengths that would work within our budget. Grant Capital took the time to understand our needs and craft a solution which allowed us to make $19 million in upgrades utilizing our approved budget. I am truly thankful for their hard work and consultative approach.”
Sidney Evans, Chief Financial Officer of Morgan State University