Baystone Financial Group
Specialists In Lease Finance
Fire Line Equipment is pleased to offer our customers the services of Baystone Financial Group. Baystone Financial Group specializes in tax-exempt lease purchase financing.
Prompt Bid Response
- Prompt response with a formal finance proposal, typically the same day it is requested.
24 Hour Credit Approval
- After the required information is recieved, you will be informed within 24 hours if credit has been approved on your standard transaction.
Immediate Funding
- Baystone will process payment to the vendor on the same working day in most cases.
Simple Funding Program
- Transactions under $250,000 with a 10 year term or less can be processed with ease. A one page application and minimal documentation makes it easy to complete the financing process.
Equipment Types Financed
- Pumpers, Tankers, Rescues, Aerials, Ambulances
- Fire Station construction and remodeling
- Turn out gear
- Administrative vehicles
- Extrication tools
- Air packs
- Loose equipment
- Thermal imaging cameras
- Rescue hovercraft and boats
Questions About Lease - Purchase Financing?
1. What is a Tax-Exempt Lease?
Tax-exempt lease financing is one of the most successful methods used to purchase vehicles, aircraft, communications and other equipment. This type of installment purchase is also referred to as "government lease-purchase" and/or a "municipal lease". The interest earned under a properly structured and documented lease is exempt from federal income tax under the same tax laws that enable a municipal bond to carry a tax-exempt rate. Because the Lessor does not pay federal tax on the interest earned, a tax-exempt lease provides a much lower interest rate to the municipality than other types of borrowing instruments.
top2. What types of municipalities qualify for tax-exempt financing?
Cities, Counties, School Districts, Townships, Villages, Police Departments, Fire Departments, Special Purpose Districts and any other governmental entity
top3. What can be financed on a tax-exempt basis?
The list varies for each entity. Here is just the beginning....
- Real Property--Fire Stations, Truck Bays, Command Centers, Training Facilities
- Fire Apparatus--Pumpers, Aerials, Tankers, Ladder Trucks, Tower Trucks, Brush Trucks, Rescue Squad Trucks, Fire Trucks, Quick Attack Vehicles, Ambulances, Boats
- Loose Equipment--SCBA, Thermal Imaging Cameras, Spreaders, Air Tools, Extrication Equipment, Fire Hose, Defibrillators, Generators, Radios, Pagers, 911 Systems
top4. Can used equipment be financed?
Yes! Used and refurbished fire trucks and equipment can be financed just like new equipment as long as the term of the financing does not exceed the useful life of the equipment
top5. Who owns the equipment under a tax-exempt lease?
In most states the Lessee takes title to the equipment or deed for the property at the beginning of the lease. The Lessor takes a security interest in the equipment or property as collateral. The Lessee is responsible for the use, maintenance and insuring of the equipment or property
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