Seconds To Safety

“Truly Affordable”

We are delighted to announce that we have formed an independent contractor Financing & Leasing relationship with the very capable group of “Equip Lease Financing” who are now providing customized financial services exclusively for Schools and School Districts acquiring our Lifesaving Safe Room Shelters. Serving as independent contractors for Shelter-In-Place, LLC providing their professional services and acting in the role of Director of Financing & Leasing will be Mr. Bill Mapes, and acting in the role of Assistant Director of Financing and Leasing will be Mr. Bob Aistrup.

Bill Mapes and his associates have over 40 years of experience dealing with the complex environment of equipment financing and leasing. While so many municipal entities, not-for-profit organizations and tribal councils are struggling with their budgets, they have offered an immediate solution with multi-year lease purchase options enabling them to immediately acquire vital equipment and then make installment payments over a period of years!

Bill and his team will customize lease purchase plans for your specific needs including – single purchase leases, master leases, progress payments and early buyout options. Their team fully understands that every organization, particularly all of the different types of schools (public, private, charter, religious, and tribal) are as unique as are their various needs for leasing or lease/purchase financing for different reasons. This specifically will now allow schools to promptly get the safe room shelters they want and need to protect their students & staff while allowing them sufficient time to secure funding to pay them off early via school bonds or other revenue options.

LEASING VS. BOND ISSUES:

Characteristics of lease purchase financing/leasing:

1. Voter approval is not needed.
2. Funding comes from annual operating budget.
3. A lease APR compare favorably with Bond Issues when issuance costs and staff time are taken into consideration.
4. Proves effective for terms under 10 years and less than $10 million.
5. Lease documentation is more simple and the process moves faster. Staff time and soft costs are minimized.
6. No additional fees or reporting requirements.
7. Leases renew on a year-to-year basis and are dependent on annual operating budget thus are not considered debt keeping future bond alternatives open!
8. Early buyout options are available.
   Finance or lease only what is needed.
9. Provides ability to terminate without penalty if funding is not available.
10. Matches expected useful life of leased property to the term of the lease.

Characteristics of bond issues:

1. Need voter approval – risk loss of referendum with cost of election and advertising.
2. Issuance cost will be high and measurably affects true borrowing rates.
3. Appropriate for large issues and long terms to lock in low rates.
4. Bond issuance process is slow, consumes staff time and incurs hidden expenses and overhead costs.
5. Costs continue after bonds are sold – trustee fees, compliance reports, footnote disclosure and added audit fees, periodic rating agency reviews and fees.
6. Restricts future bond issues because of covenant constraints.
7. Will have call provisions with prepayment penalties after a period of time.
8. Bond issues may not exactly match capital needs. Excess bond proceeds may end up in general fund and earn less than the borrowing rate or general funds will be used to make up balance of cash needed.
9. Commits the government entity to fixed payments regardless of local economy cycles.
10. Bond term may exceed life of the equipment.

FOR MORE INFORMATION CONTACT:
Bill Mapes, Director of Financing & Leasing, Tel: 316-253-7464 or via email at billm@shelterinplace.com

Or

Bob Aistrup, Assistant Director of Financing & Leasing, Tel: 620-253-0747 or via email at boba@shelterinplace.com