The Equipment Financing Program is a cost-efficient way for cities to finance equipment needs with minimal staff time and significantly less paperwork. Local governments set up a master set of documents one time. Once the program is established, no additional master lease documents, bid documents, or massive credit applications are required to purchase additional equipment (subject to annual credit review).
As administrator, the League coordinates the drafting of all documents and hiring of professionals, and solicit bids. $100,000 is the minimum amount financed for up to 10 years, depending on the life of the equipment.
Cities can use the program to finance many types of equipment including vehicles (maintenance, rescue, fire engines, school buses and police cars), aircrafts, furniture, computers and telecommunications, medical/technology and more.
For more information, please contact Molly Hall