Municipal Financing

City, County, State, & Federal Transactions of $15,000 and Up

Transform the Operational Efficiency of Your Community

Municipal loans and leasing enable municipalities to enhance their cash flow by spreading the cost of equipment over several fiscal periods. This allows both current and future taxpayers to pay the cost, thus stretching tax dollars and providing a hedge against inflation. Equipment purchased at today’s prices can be budgeted in less-valuable future dollars over the term of the loan or lease.

LOW COST FIXED RATE FINANCING
NON-APPROPRIATION CLAUSE
NO HIDDEN FEES OR COSTS
YOU CONTROL YOUR BID PROCESS
FLEXIBLE LOAN OR LEASE PAYMENTS
NO PREPAYMENT PENALTY

Who Qualifies?

Public Schools & Universities
Government Offices
Police, Fire & Rescue
Municipal Waste Management
Municipal Golf Courses & Public Recreation

How it Works

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Complete the application.

The Terrace 1-page municipal application gives us enough information to get the ball rolling. You can complete it online right here or through a participating merchant.

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Tell us your story.

The Terrace Finance team will contact you to assess your needs further and help you compile the necessary documentation. We’re not afraid of a little paperwork!

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We’ll find your match.

Terrace Finance will match you with the appropriate lender based on the specific needs of your municipality. We can also match you with a manufacturer or merchant that carries your desired equipment if you haven’t selected one already.

Available Loan & Lease Products

Lease Purchase

This product is used to purchase equipment but rather than being for a lump sum, the agreement is for a specific piece of equipment. Financing equipment allows you to spread the cost over time and/or preserve working capital.


Sales Lease Back

This agreement gives you the opportunity to finance a recent cash purchase and receive the money back.

Fair Market Value Lease (FMV)

With this financing, you essentially rent equipment for a specific period of time. At the end of the term, you can either return the equipment or purchase it for its Fair Market Value (FMV). The term of this agreement is typically determined by the useful life of the product in your setting and the warranty of the equipment


Refinance Wrap

This agreement allows you to refinance debt from an existing loan or lease into a new equipment finance agreement.

To Qualify for a Tax-Exempt Municipal Lease…

The agreement must include:

  • No prepayment penalty
  • Multiple purchase or return options at the end of the financing agreement
  • A breakout of principal and interest (amortization)
  • The equipment being financed must be for public purpose
  • Lessee must qualify under section 103 of the Internal Revenue Code of 1986

What do We Finance?

Terrace Finance specializes in vehicles and business equipment, but we have all types of specialty dealers and lenders that handle many other items you may need for your municipality. The best way to find out is to fill out our municipal one-pager so an expert can assess the feasibility of obtaining what you need.

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LANDSCAPING & MAINTENANCE EQUIPMENT
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ELECTRONICS & COMPUTER EQUIPMENT
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POLICE, FIRE & RESCUE
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WASTE MANAGEMENT EQUIPMENT
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CONSTRUCTION EQUIPMENT & TOOLS
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GENERATORS
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SNOW & ICE EQUIPMENT
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IRRIGATION & PUMPING STATIONS

Questions?

Contact
Bob Zinn: 954-522-3773 bobz@terracefinance.com
John Papadopoulos: 954-636-8571 johnp@terracefinance.com