Here at St Croix Recreation, we understand the difficulty of adding a playground to your property or organization, but we also see the importance. To us, a playground is a reflection of you and your values as it can be a wonderful gathering place for children and adults alike, creating a sense of community. However, it is a big purchase and a large investment. We meet with many organizations which are unable to find necessary funding, especially when the purchase needs to be paid in full. We also understand that trying to do it without the proper funds can create issues for your day-to-day operations and negatively impact your cash flow…However, just like any large addition, say a car or a house, there are other options out there! Have you ever considered playground leasing?
The biggest misunderstanding or difference in leasing a playground versus a house or car is that you aren’t giving the equipment back once purchased! In 2014, we encountered a family business that operated a campground. They chose leasing as an option to assist with upfront funding and to still be able to offer a quality play structure for their campers. Here’s why:
- Organizations can file for a tax deduction for equipment purchased, and some leasing companies can include installation costs.
- Playground leasing can cover up to 100% of the playground cost without needing a blanket lien.
- Playground leasing may offer qualified organizations low monthly payments that are flexible.
- Playground leasing helps control overall cash flow of the business/operation.
Thank you to Carrie Radloff of American Financial Partners, Inc. for giving us some great information and benefits of the general lease process and answering some of the frequently asked questions.
Q: How long does the playground leasing process take?
A: Our company can provide approval within as little as 1 business day. However, the process typically takes on average one week depending on the receipt of needed paperwork from the applicant.
Q: Who pays for the playground?
A: The lease company will pay the vendor directly after the playground arrives or installed. Our company can provide funding up to 100% of the entire project, including installation.
Q: How can I find out more information regarding the playground leasing experience?
A: Call us at St Croix Recreation at 1-800-525-5914 to get started and learn more!