Additional financing tools provided by Providence Capital include:

True Lease or Operating Lease
A true lease, or operating lease, is simply a contract to rent property for a period of time shorter than the property’s useful life.  Unlike a tax-exempt lease, operating lease payments are not divided into principal and interest components.  An operating lease is intended to compensate the Lessor for use of the property, not to amortize the purchase price of the asset.  This type of lease typically provides the lowest monthly payment, and is structured with the following end of the lease options:

• Replace equipment with the latest technology (and enter into a new lease)
• Renew at a monthly amount based on the equipment's fair market value
• Purchase the equipment at its fair market value
• Return the equipment to the Lessor

Finance Lease or Capital Lease
This type of financing is structured as a finance lease which provides for the periodic use or rental of equipment over time.  This type of lease enables a municipal organization to easily acquire the equipment at the end of the lease term, and is structured with the following end of the lease options:

• Replace equipment with the latest technology (and enter into a new lease)
• Purchase the equipment for $1.00
• Return the equipment to the Lessor

Technology Refresh Lease
A Technology Refresh lease enables a municipal entity to effectively manage the technological changes of information technology equipment.  This type of lease offers:

• The flexibility to easily migrate to the latest technology
• The advantage of an easy-to-budget monthly payment
• The ability to avoid technological obsolescence

Master Lease Financing Program
A master lease a cost-effective and speedy funding tool to fund projects or acquire equipment as needed in the future with a document already in place.   This financing tool is best suited for: (i) equipment that is to be continuously acquired over several periods, or (ii) a series of smaller equipment purchases that can be conveniently, and cost-effectively acquired under one document. 

Master Lease Refinancing Plan
A master lease refinancing plan is intended to take advantage of the reductions in interest costs that may be realized on existing leases by entering into a new lease at current market rates; or to combine and restructure the timing or amounts of rental payments on an existing lease(s).