LEYECO V first to avail REFC’s Leasing Service Facility
The Rural Electrification Financing Corporation (REFC) showcases its new product, the leasing service facility, with the Leyte V Electric Cooperative, Inc. (LEYECO V) as the first member investor to avail the lease of 2 units of Manlifts with 17 meters and 28 meters operating heights to ease their maintenance work for both distribution and transmission lines. “This is a new product that we offer to our member-ECs,” affirmed Engr. Iglorio R. Hinayon, REFC’s Board President. “This was actually approved by the Board in November of 2017 but was only availed by LEYECO V recently, whose application for the service was approved by the Board during its February 2018 meeting.
It is projected that many member-ECs will follow suit after LEYECO V considering that REFC’s leasing service facility offers various products such as service utility vehicles, boom trucks and manlifts, thermal scanners, test equipment, among others. The lease period ranges from two (2) years or twenty-four (24) months up to the economic life of the leased asset, with the lessee opting to assume ownership.