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
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.
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!
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:
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.
LANDSCAPING & MAINTENANCE EQUIPMENT
ELECTRONICS & COMPUTER EQUIPMENT
POLICE, FIRE & RESCUE
WASTE MANAGEMENT EQUIPMENT
CONSTRUCTION EQUIPMENT & TOOLS
GENERATORS
SNOW & ICE EQUIPMENT
