- Prepare a description of the project to be financed: This will
include costs and delivery and payment dates, the average economic life of the
group of assets, and the appropriate amortization schedule for the lease
repayment.
- Prepare sample legal documents: The Program Administrator
prepares the legal documents, which are forwarded to the applicant for
review.
- Prepare a bid package: The Program Administrator prepares a bid package which includes the
project description, credit information, a term sheet outlining financing parameters, a sample lease agreement, and a bid form.
- Distribute the bid package: The Program Administrator distributes the package and solicits
bids from both local and national potential lease providers.
- Receive bids; award to best qualifying bidder: The applicant reviews
the bids and selects the winning bidder.
- Process & negotiate final documentation: In the privately placed
tax-exempt lease market, the winning bid is contingent upon the winner's
satisfaction with credit and documentation. The financing team will work
together to ensure that the winning bidder is comfortable with the applying
entities credit and that final documentation is acceptable to all parties.
- Close Financing
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