SRCO forecasts a 20% rate of growth in its Municipal Lease Product during 2010. This projection is based on the growth experienced and figures achieved in 2009.
Since expanding the asset classes that qualify for the Municipal Lease Product in September 2009, SRCO has received a noticeable increase in inquiries from manufacturers, vendors, dealers, and municipalities in various parts of the country and is pursuing those opportunities.
The new asset classes eligible for the Municipal Lease Product include vehicles such as tactical armored units, electric-hybrid buses and police cruisers, and a wide variety of other essential equipment.
As a result of the expanded Program and the growing volume of inquiries, SRCO is anticipating the growth rate in its Municipal Lease Product will continue to accelerate throughout 2010.
The Municipal Lease Purchase Financing offered by SRCO allows municipalities to acquire vital equipment and property without requiring large, up-front cash outlays.
As payments are made, the municipality maintains title ownership of the equipment, thereby building real equity in that equipment.
Furthermore, because Lease Purchase Financing is not considered "Debt" for municipalities, only the current year's lease payments are required to be included in the operating budget.
Municipal Lease Purchase Financing provides the opportunity for municipalities to acquire the equipment they need, especially while they are reacting to decreased annual budgets, resulting from lower tax revenues.
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