Beyond the Laptops: Flexible Equipment Financing for Education
Specialized equipment financing helps schools and universities grow and improve
It is no secret that universities, school districts and educational institutions across the country are budget constrained. Making sure that schools have everything they need to educate students a significant and ongoing challenge.
One area that makes perfect sense for education administrators is technology leasing. Technology and audio visual needs for students are expensive, increasing and often change from year to year. Many organizations including IFS offer programs to help schools manage their technology acquisition and upgrade needs so that districts can provide all students and staff the most current tools such as laptops, tablets, software, monitors, and more.
But have you considered the many other areas that need to be addressed in order to provide the full educational experience for students? Let’s consider these two examples of specialized equipment financing:
Extra Classroom Space for a Growing Midsized University – Modular Building Financing
A growing university found itself in a pinch when it discovered it needed more classroom capacity for the upcoming school year. The solution was to add a modular building where it could hold regular classes. The university was on a very tight timeline and also a strict budget. A flexible lease was essential to make this possible, so it turned to its longtime trusted leasing partner IFS for quick turnaround options.
Because IFS is an independent leasing firm with the ability to be nimble, fast and provide flexible equipment financing solutions for a wide range of equipment, it quickly created a lease that met the university’s specific needs. The lease included competitive rates, a longer than average term, and milestone and progress payment schedules specific to modular building vendor’s contract. Because IFS was able to meet the very fast turnaround requirement and deliver the necessary vendor payments on time, the university was able to makes sure the modular classroom was delivered and ready on time for the beginning of fall semester classes. IFS provided the original lease quote and issued a purchase order to the vendor all in the same week. Payments were made to the modular building vendor quickly to accommodate its schedule and lead time requirement. IFS’ understanding of specialized equipment contract details along with its flexibility and commitment serving customers, made it possible for the university to have the necessary added classroom installed before the new school year began.
Athletics Facility Equipment for a Competitive High School – Financing Pool Equipment, Laundry and Lockers
A high school known for its competitive athletics program needed to renovate its pool, laundry, and locker room. In order to afford the multimillion dollar update, the school needed flexible equipment financing for some very specialized items including key pool components such as the heater and engine, as well as new laundry machines and locker units for the locker room.
The school had been working with IFS for a few years and knew that it could provide flexible custom leasing solutions for the types of specialized equipment included in this project. IFS quickly engaged with the school and provided separate leases for the pool equipment, laundry and lockers so that the project could get underway without delay. Because of the size and scope of the project, the installation period lasted more than a year. IFS was on point to coordinate with and deliver payments to appropriate vendors over the course of the installation as work was completed before the terms of the lease began. IFS again proved its value to the school as a strategic partner that is more diverse and flexible than other leasing firms that have defined terms, schedules and limits on the types of equipment they cover.
Both examples above demonstrate the clear benefits of leasing specialized equipment in the education arena. Today more than ever, universities, schools and educational institutions need to stay current, fresh and most importantly able to serve the needs of their communities. Custom and flexible equipment financing from IFS offers more than just lower upfront costs and predictable payments spread out over the term of the lease. IFS is a trusted and strategic partner invested in the success of its customers that goes the extra mile to meet unique needs, timelines and circumstances.
Contact Insight Financial Services today to learn more about how an independent leasing partner can support the specific equipment financing needs of your organization. firstname.lastname@example.org or www.ifsleasing.com