We provide a wide range of financing solutions that help
schools acquire capital assets to provide the essential
services to their constituents in a demanding budgetary
environment. Combined with our affiliates we have over 25
years of experience in providing financing to government and
not-for profit institutions. Our expertise is unmatched in the
industry. We understand the needs of our customers and can
offer simple and flexible financing solutions with the
personal service you deserve.
Who is CalFirst Government
and Education Group?
CalFirst Government and
Education Group, a part of California First Leasing
Corporation ("CFL"), is CFL's leasing group that specializes
in serving the special lease financing needs of schools.
CFLC is an affiliate of California First National Bank and
a subsidiary of California First National Bancorp ("Bancorp").
Bancorp is a large publicly-traded financial organization
whose principal operations through its subsidiaries, include
leasing and banking services. Bancorp is traded on NASDAQ
under the stock symbol CFNB.
Why CalFirst Government and
Education Group?
- Finance property acquired through multiple vendors and
/or any vendors
- We are a direct lessor Not a Broker
- Master Lease
- We provide solutions to everyday problems in operating
your school or government
- Experience
- Flexible: Structure designed to fit your needs
What are the advantages of
leasing?
Unlike other financing methods CalFirst
Government and Education's leasing solutions are generally
equivalent to 100% financing because no down payment is
required. Lease payments are also generally lower, and leasing
offers flexible solutions depending on your specific school's
needs. For more information see Lease Benefits.
- Little or no up-front costs
- Transactions closed quickly vs. public offerings /
bonds/ etc.
Why should I lease
property instead of buy it?
Leasing is flexible. A
lease provides the use of property for specific periods of
time at fixed rental payments and allows you to be more
flexible in managing your personal property needs.
- Avoid putting off projects while increasing your buying
power and decreasing your expenses.
- No Blanket liens on schools assets and fixed rates..
Many schools are locking it in now and will enjoy these
lower rates for years to come. Bank Lines don't do this..
- Initial outlay is minimal
Leasing is practical. By leasing, you are able to
concentrate on using the property as a productive part of your
school without having all the concerns that come with property
ownership.
Leasing is cost effective. Property may be expensive and
some costs can be unexpected. When you lease, your risk of
having to operate with potentially obsolete property is lower
because you can upgrade or add property to meet your changing
needs.
Leasing allows you to stay on the cutting edge of
technology. Business managers have learned that the primary
benefits of higher productivity and profit come from using
property, without owning it.
Leasing helps conserve your operating capital. Leasing
keeps your other lines of credit open, helping to better
manage your balance sheet. You don't tie up cash in equipment
and you avoid costly down payments.
What is a lease?
A
lease is a contract where one party (the "lessor") gives
another (the "lessee") exclusive rights to use and possess its
property or equipment for a specified period. The contract
will require the lessee to make fixed periodic payments (or
"rentals") to the lessor for the use of the leased property.
Lease arrangements can be structured in a variety
of ways to suit the needs of the lessee.
Leasing can be especially beneficial in the information
technology area, where many schools opt to finance
acquisitions of technologies because the life cycle of
technology is so short.
How much will it
cost?
Lease costs depend on factors such as the
value of the property being financed, the frequency of
payments and the length of the lease. For more information
please contact our lease professionals at (800) 496-4838, ext.
364.
What types of property do you
finance?
Most personal property used in schools and
businesses in the United States is generally acceptable for
leasing. Examples include:
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Security equipment |
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Telecommunication equipment |
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Personal and laptop computer
systems |
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Tenant improvements |
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Video recording and editing
equipment |
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Accounting systems, including hardware,
software, installation, and training |
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Furniture, fixtures and related equipment |
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Imaging equipment |
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Internet related software, hardware and
wiring |
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Laboratory equipment |
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LAN/WAN and telecommunications
equipment |
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Lighting/electrical efficiency
projects |
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Maintenance/lawn grooming equipment |
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Medical equipment |
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Network cabling/routers |
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Network servers |
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Point-of-sale equipment |
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Printers/copiers |
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Printing presses |
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Scoreboards |
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Software |
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Broadcasting equipment |
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Exercise training
equipment |
Can leasing help cash
flow?
Increasing cash flow may simply mean reducing
payments you make each month. A lease can help increase cash
flow because rental payments are usually less than debt
financing payments. This represents real cash savings.
What asset ownership
plans affect the lease-buy decision?
Your plans for
the property you're acquiring will affect your decision to
lease or buy. You should answer the following:
- How long will you need the property?
- What is its expected useful economic life?
- Will new technology increase the chances that the
property may become obsolete?
- How will inflation affect its market value, particularly
if you have to replace it?
- What is the value of cash savings from leasing to your
school?
- When the lease matures, will the expected value of the
property be offset by benefits of lower rentals during the
lease term?
How does leasing compare with
other financing options?
Leasing is most
advantageous for schools with limited budgets and schools
wanting to protect against technology obsolescence. When
acquiring new IT assets, payment choices include cash
purchase, loans, lines of credit and leasing. Leasing compares
very favorably with each of these other payment options in
that it offers a combination of:
- minimum initial cash outlay
- fixed payments
- ease of upgrading and adding additional property
- avoidance of possible technological obsolescence
- possible tax and accounting benefits
- no blanket liens with a lease
Can I delay the start of
my rentalpayments?
Yes. For qualified customers, the
first rental payment can be deferred by up to 12 months
(subject to approval). Bear in mind, however, that this will
affect the overall lease rate.
Do you have a minimum
transaction size?
Our minimum transaction size is
typically $5,000 or greater.
What is the interest rate
in a typical lease?
Since you are leasing and not
taking out a loan to finance the purchase of property, there
is no "interest rate" in the traditional sense. It's more like
leasing office space or renting a movie on video. You're
paying to rent the property, and the monthly payment is based
on the type of leasing plan you choose, the terms of the
lease, and the cost of the property.
What should I do if I
have problems with the property that I leased?
The
supplier, manufactuer or vendor providing the property is
solely responsible for service or warranty issues. However,
CalFirst Government and Education Group will assign to you any
warranty rights we receive from the supplier, manufacturer or
vendor.
How do I find a contact at
CalFirst Government and Education Group?
| Customer Service - |
If you have any comments or questions regarding our
lease programs, please contact our Customer Service
Department at mailto:custservice@CalFirstBancorp.com. |
| Sales Questions - |
If you have any comments or questions regarding our
lease financing, please feel free to contact our sale
professionals at 800-496-4838, ext. 364 or simply e-mail
us at mailto:sales@CalFirstLease.com. |
| Webmaster - |
If you have any comments or questions regarding our
website, please
e-mail us at webmaster@calfirsteducation.com. |
Can I upgrade and/or add
equipment?
Yes. We're a service company and, in
particular, our use of a master lease agreement easily
facilitates annexing lease schedules for upgrades and/or
adding additional property. Property, subject to our credit
review and approval, can always be upgraded and/or added.
What is the minimum and
maximum initial term of a lease?
A typical initial
lease term is 24 to 36 months. However, we will consider
initial terms of shorter or greater length. In most cases, we
rely on you to accurately assess the initial term that your
company desires; however, based on the type of asset(s) being
leased, your financial objectives and our evaluation of your
credit we may suggest a maximum initial term of the lease.
How much software,
services or support can I finance?
It depends on a
number of factors. Decisions are made on a case by case
basis.
Can support and services
be financed?
Yes. Fees for maintenance and support
may be financed over the lease term. All leased property must
be maintained while on lease.
Is CalFirst Government and
Education Group leasing available to
individuals?
CalFirst Government and Education Group
offers commercial leasing only to business customers, not to
individual consumers.
Where are you
located?
Our offices are located in Irvine, CA;
telephone 800-496-4838, ext. 364.
How do I set up a lease
with CalFirst Government and Education Group?
You
may call us at our toll free number (800) 496-4838, ext. 364 or email us sales@CalFirstLease.com.
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