Bankers’ Bank of the West offers a turnkey municipal leasing product that helps community banks serve high-profile clients such as school districts, fire districts, towns, and other municipal entities. For various reasons, municipalities often prefer leasing equipment to purchasing it.
The primary advantage to the municipal entity is cost savings. Generally, municipal leasing gives the entity access to the needed equipment without an expensive, time-consuming vote of the community. In addition, leasing makes possible the acquisition of equipment over a period of time.
Other advantages of municipal leasing include:
- Affordable payments can be scheduled on a monthly, quarterly, semi-annual, or annual basis depending on the municipality’s cash flow payment schedule.
- Repayment of capital equipment can be stretched out, thus conserving working capital.
- The municipal leasing program can cover multiple vendors to finance equipment needs.
- The municipal leasing program allows match funding of the equipment with a specified revenue stream.
Any type of equipment can be leased—from standard EMT vehicles or police cars for a municipality, to pipes in the ground for a water district. What’s more, we can assist you through all aspects of the process including the initial request for proposal, funding, and servicing.
To find out more about our municipal leasing services, call Scott Wintenburg at 800-873-4722 or email him at firstname.lastname@example.org.