VML/VACo Equipment Leasing is a lease-purchase financing program that offers Virginia localities, school divisions, and authorities a hassle-free, cost effective way to finance the acquisition of vehicles, moveable equipment (such as communication systems, information technology, and refuse equipment) and energy saving building upgrades. Through a competitive bidding process, VML/VACo Finance provides access to leading local, regional, and national financial institutions that are active in the equipment leasing market.
In a lease-purchase financing, the equipment serves as collateral, so you typically don’t have to provide a general obligation pledge or deal with restrictive financial covenants.
VML/VACo Finance casts a “wide net” through its procurement process, so you can be assured of receiving the most competitive quotes available in the market. We have relationships not only with local Virginia banks and financial institutions, but also with out-of-state banks that you may not have heard about. This helps ensure that you are receiving the most attractive financing terms being offered in the equipment leasing market.
VML/VACo Finance’s experienced staff handles the entire procurement process on your behalf. We distribute a Request for Bids to a large number of financial institutions. We compare multiple bids with varying terms and conditions. We negotiate the terms of the financing on your behalf. We also review lease documents and coordinate the closing. Our one-time flat fee is often a fraction of what others charge for the same level of service.
Put our experience and relationships to work for you!
VML/VACo Finance’s Equipment Leasing offers:
- Competitive rates and low closing costs
- Minimum financing size of approximately $75,000. No maximum
- Both tax-exempt and taxable equipment leases
- Leases terms up to the expected life of the equipment
- Streamlined closing process – we handle the details for you, and a bond counsel opinion is generally not required
For more information, or to submit an application, select the following links: