Today's economic climate is pushing schools, childcare centers, parks and recreation departments, and non-profit agencies to constantly do more with less. The pressure to stretch a budget while meeting the immediate and long-term needs of schools, programs and communities requires tough decisions, self-reliance and innovative approaches to playground financing.
To meet the need for alternative financing, we've aligned with National Cooperative Leasing to provide parks and recreation departments, schools, non-profits, parks, churches, daycares, preschools and more with efficient financing solutions to purchase park and playground equipment.
Lease-purchase financing addresses an immediate need while improving the management of cash flow through monthly payments. The tax-exempt feature of lease-purchase financing is an added benefit that can make a playground more affordable than ever imagined.
With playground leasing agreements, you can build your playground or community park today and fund it over time. The programs we offer are constructed to meet the specific requirements of state and local law and respond to current demands within the fiscal constraints of the budget process. Additionally, the application process is quick and easy with high approval rates and competitive financing options.
How to Apply for Playground Financing
Applying for playground lease agreements is quick and easy. While time frames can vary based on the accessibility and cooperation in obtaining bank references, transactions up to $150,000 can usually be approved in a few days with the submission of a simple one-page application. Larger transactions usually require four to five days for processing.
Contact a Landscape Structures playground consultant to discuss playground financing options and more information about lease agreement applications.
The lease offering from National Cooperative Leasing is not a traditional purchase program. It is specifically designed for public entities with their legal requirements. See the highlights below to determine if it will work for your municipality:
- This program maximizes budgets. The total asset cost doesn't need to fit into the budget, just the annual payments, which can multiply purchasing power by five times!
- Simple and fast same day approval process.
- Zero down, no payments upfront.
- No debt created so you can pay with the operating budget.
- Ownership of asset takes place up front. No residual or buyout at the end.
- Non-Appropriation clause included. Think of this as an annual out clause and as a result, voter approval is not required.
To learn more about how National Cooperative Leasing can meet your exact needs, contact us.
Playground Leasing Agreement Benefits
Leasing your playground equipment does more than just allow you to enjoy it now and to pay for it over time. When you aren’t sinking all your money into upfront costs, it offers you tremendous operations flexibility. Other lease benefits include:
- Quick Delivery – Municipal financing allows a Government Agency to obtain needed equipment immediately without waiting for voter approval through a bond issue. This increases productivity and reduces time and expenses associated with any bond issuance.
- Non-Appropriation – This clause is unique only to the municipal lease. If for any reason the government agency does not have funds appropriated for the annual payments, they can terminate the lease without penalty.
- Soft Costs Included – 100 percent of equipment as well as site preparation, installation, training and maintenance can all be included in the lease. Because the acquisition costs are spread over multiple fiscal years, a municipal lease removes budgetary constraints.
- Ownership – The agency takes ownership of the equipment on day one. There is no buy-out or residual at the end of the term.
- Flexible Payment Options – The payment is tailored to suit the needs of each Government Agency. Annual, semi-annual, quarterly and monthly payment intervals are available with terms extending to 10 years if needed.
- Nothing Down – For the majority of municipal financing plans there is no down payment or security deposit required. National Cooperative Leasing can also offer a delayed payment offering so that the first payment is deferred up to one year from the date of purchase.
To learn more about how leasing can benefit your organization and get the financing process started, Contact your local Landscape Structures playground consultant.