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We also offer tax exempt lease purchase program specially designed to meet the needs of tax exempt political subdivisions. We invite you to contact us to discuss your particular situation. Our goal to to provide you with prompt and efficient solutions for your financing needs.
Under Section 103 of the Internal Revenue Code, political subdivisions that qualify, with a few exceptions, are cities, towns, boroughs, villages, counties, states, school districts, universities, fire departments, districts and authorities, hospitals, 501c3 Corporations, and Indian Nations. Let us go to work for you!
Leasing expands the limits of your budget to replace worn-out high-maintenance equipment.
As an example, a $500,000 budget can buy some of the equipment you require using your cash - or it can fund an upgrade for an entire department over a five-year term. And because you pay for the equipment over its useful life, your cash flow is maximized!
Low Payments
Your tax exempt status allows you to borrow at lower rates, conserve cash, and meet budgetary requirements.
Flexible Payment Terms
Repayment terms can be structured to meet your unique needs. Equipment can be financed with terms up to 15 years depending on the asset. Facilities can be financed over a 20 or 30 year term. Payments can be scheduled in advance or arrears with payments due monthly, quarterly, semi- annually, or annually.
No Down Payment Required
Usually 100% of the equipment can be financed with up to 12 months to the first payment.
No Bond Issue
Leases are not typically considered debt, so voter approval usually is not required depending, of course, on your specific situation.
Equity Is Built-in
At the end of the lease term, you own the equipment.
More questions? Special circumstances?
We're just a toll-free call or email away.
Let us go to work for you!
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