Many state and local government organizations include the participation levels of certified small, minority, historically-underutilized, or disadvantaged companies as one of the components measured in the evaluation and award of contracts. The intent is to involve a certified company in the performance of a contract either by subcontracting a component of the contract to the company or by directly involving the company in some facet of contract administration. Providence Capital, a certified firm specializing in equipment lease-financing and extended payment plans for state and local government, provides equipment suppliers with an innovative way to increase sales activity with municipal customers that build DBE/MBE utilization goals into their contracts. (See Certifications)

In support of your sales efforts to select state and local government customers, Providence Capital’s services can be joined with your value-adding products and services via either of the following approaches, as a:

Subcontractor (Third Party Services Provider) – best suited for contracts that follow procurement procedures that allow the seller of equipment (the contractor) to provide third party administered extended payment plans. Providence Capital would pay the supplier the total cost of the equipment at the commencement of a contract and then issue invoices and collect payments directly from the municipality.

Joint Participant (Administrative Services Provider) - best suited for sole source contracts that follow procurement procedures that require the contractor to bill for and collect the periodic amounts due for the use and maintenance of an asset over an extended period. Providence Capital would pay a supplier the total cost of its’ equipment at the commencement of a contract, and then, on behalf of the supplier, issue invoices and collect payments throughout the contract term.

Providence Capital’s extended payment plans are based purely on a municipal organization’s financial and credit strength, and as importantly, pass through the benefit of the municipal organization’s tax-exempt status. This means that your state or local government customer will receive an extended payment plan for the use or acquisition of equipment that:

1. Reflects the low interest rates found in the highly competitive tax-exempt marketplace;
2. Mirrors how your municipal customer intends to use and deploy assets; and
3. Easily integrates into your sales process.
   
   Contact us to further explore the mutual benefits of a Teaming Relationship with your company.