TEQlease Capital, a private equipment lease finance company and School Tech Supply, a Division of Pacific OneSource, Inc., today announced that TEQlease Capital has become the preferred financing resource for School Tech Supply. Through this relationship, TEQlease Capital will provide lease financing solutions for School Tech Supply customers throughout the United States. School Tech Supply is an industry leader providing refurbished PCs and discounted classroom technology to more than 50,000 public and private K-12 schools, colleges and universities across North America. Read the full press release here.
We are pleased to announce that we have provided USC Hybrid High School, a new public charter school developed by the USC Rossier School of Education with a charter from the Los Angeles Unified School District, with equipment lease financing for the school’s technology equipment, including tablet computers and laptops.
USC Hybrid High School is in its first year and its mission is to graduate 100 percent of its students and to help them be socially and academically prepared for success in college and the work place. The school is focused on students most at risk of dropping out due to job and family care obligations, and will dramatically increase their access to school, including weekends and longer week days. The school is also committed to increasing student opportunity to learn through personalized learning plans and individualized support.
The school will be supplying students with laptops and tablet computers to access their digital curriculum and online video resources at school. In addition, they will have iPods that they will be able to use anywhere to access their assignments and email.
You can read more about today’s announcement here.
We are very pleased to announce that we have provided Avenues: The World School, a New York City N-12 private school, with lease financing of over $1.5 million for infrastructure technology equipment for its new building in the Chelsea area of Manhattan. The financing from TEQlease has allowed Avenues the flexibility and customization it desired to build a world class technology infrastructure that includes a robust wireless network, SMART projectors, wireless screen sharing, web cameras, collaborative academic technology tools and interactive displays of students’ work. The entire news announcement is available on our News page.
Last month we reported in our post “Tablets Quickly Becoming Primary Computing Device” that Forrester Research is predicting by 2016 there will be 760 million tablets in use globally representing a 46% compound annual growth rate. We are back today to report that in the last 30 days we have leased 3550 iPads vastly surpassing our leases on any other single computing device for the same period. What are you seeing in your business or school?
By 2016 there will be 760 million tablets in use globally representing a 46% compound annual growth rate, Forrester Research forecasts in their just published report “Tablets Will Rule the Future Personal Computing Landscape.” That’s pretty dramatic growth considering that in 2011 56 million tablets were sold.
Why the rapid growth in the tablet market? According to Forrester’s Frank Gillett, “Tablets aren’t the most powerful computing gadgets. But they are the most convenient.”
They have longer battery life and always-on capabilities better than any PC — and will continue to be better at that than any ultrathin/book/Air laptop. That makes them very handy for carrying around and using frequently, casually, and intermittently even where there isn’t a flat surface or a chair on which to use a laptop.
And tablets are very good for information consumption, an activity that many of us do a lot of. Content creation apps are appearing on tablets. They’ll get a lot better as developers get used to building for touch-first interfaces, taking advantage of voice input, and adding motion gestures.
Forrester goes on to forecast that by 2016 one third of all tablets will be purchased by businesses and we will “see a very different computing landscape, with tablet adoption having had a dramatic impact on PCs.”
These predictions are probably not a surprise to many small businesses and schools that are already using tablets for many of their business functions. The Street recently reported on the growing using of tablets by small businesses in their article “Why Every Small Business Needs an iPad”. According to Mike Pugh, vice president of marketing at j2 Global:
Credit card processing off a mobile device is a great way to be able to do business in a variety of different settings. Using the camera in the device to be able to do both taking pictures and video. For someone who has remote offices, video conferencing can be a fantastic way to maintain contact with customers or employees. Using the camera is also great way to do documentation; essentially it serves as a scanner that can document insurance claims or for interior designers to be able to take pictures of different environments.
What questions do you have about leasing tablets for your business or school? Please contact us and we will walk you through the options.
It’s not a secret that school systems across the country have been struggling with their budgets over the last four years. Unfortunately, many schools have been forced to continue to use aging and outdated equipment for financial reasons . However, by carefully weighing the pros and cons of leasing IT equipment including desktops, tablet computers, iPads, servers, laptops, wireless networking solutions and more, many schools may find they can stretch their budgets further and get the equipment they need now by leasing.
Here are issues to consider in the lease-versus-buy analysis:
- There is an implicit cost of money component to leasing which should be factored in to the analysis. Obviously leasing isn’t free. However, today leasing certainly is cheap. With interest rates at historic lows, a school districts cost of funds is also very low, making the decision to lease often even more attractive.
- Leasing is a good way to stay current and refresh technology. With a lease with a $1 purchase option, the IT equipment tends not to be refreshed. But with a lease with a fair market value purchase option, the refresh decision has to be made.
- Consider fair market value leases (which tend to be cheaper) for equipment with a limited useful life (like notebooks), but $1 purchase option leases for IT infrastructure.
- Ideally, negotiate an end-of-lease option that allows a purchase option for some items but not others – defer the decision so you can truly evaluate the equipment throughout the lease term.
- We find that many students want to buy their notebooks at the end of the lease rather than return them, even if the notebooks are 3-4 years old. Some students don’t. Negotiate a fixed price end-of-lease option for this if you can.
- Be careful of extended warranties. Some don’t cover liquid spills, cracked screens and drops.
- In almost all cases we recommend that schools customize lease terms. Most leasing companies—including TEQlease Capital–can and will provide a leasing solution customized for what your school needs.
What questions do you have about leasing? Please contact us and we will walk you through the options.
Apple made news again by unveiling iBooks2, an updated and enhanced version of Its iBook software that brings to life interactive textbooks, and iBooks Author, a new app that “makes it free and simple to create interactive textbooks for the iPad”, and a new iTunes U aimed squarely at higher education. This app integrates with the new iBooks app and more than 100 courses created by universities around the world are available. Notably, iBooks is only available on the iPhone or iPad. According to Joshua Benton of the Nieman Journalism Lab in his article “The day the bookshelf shook: Four lessons for news orgs from today’s Apple iBooks announcements”:
One of the standout new textbooks announced today was E.O. Wilson’s Life on Earth, the Harvard professor’s attempt to rethink the biology textbook. Aside from what wisdom it will bring about the Mesozoic Era, perhaps its most interesting element is that it is being released chapter by chapter. The first two chapters are available for download now; the remaining ones will be available later at an “aggressive” price.
What does this mean for education? As an Apple Financial Services partner we believe that today’s announcement will drive an even greater demand for and use of the iPad in schools. Over the last two years we are leasing in increasing number of iPads to our charter school customers . Forrester agrees with our assessment of the growing demand for iPads in the classroom. In their blog post about today’s announcement, Forrester reports that “the iPad –which now outsells Macs in schools, according to Apple—is capable of much more than what has previously been produced.” Looks like Apple is intent on reinventing how our students learn.
Hawaii Technology Academy (HTA), an innovative online technology K-12 charter school, based in Waipahu, Hawaii, has recently received lease financing for desktop computers and laptops for the entire student body from TEQlease Capital.
“In today’s world the Hawaii Technology Academy believes it is crucial for our school to meet the needs of each and every student by working in close partnership with each teacher and each parent to ensure all students have the flexibility they need to learn and succeed at their own pace,” said Jeff Piontek, head of school for HTA. “With the lease financing provided by TEQlease Capital, we are pleased that we can now provide every student in our school with the technology they need as well as equip our faculty to ensure the students are getting an excellent education.”
HTA has built its learning environment outside of the traditional school building to a web-based curriculum that allows students to stay connected to their teachers and classmates. HTA’s entire enrollment of students now has one to one access to laptops they can use for their web-based classrooms, online discussions and email.
You can read the full announcement here.
TEQlease is pleased to announce we have provided Granada Hills Charter High School (GHCHS), the largest charter school in the nation and one of the high performing high schools in California, with lease financing for the school’s computer laboratories.
“As part of the GHCHS mission to provide students with a positive environment where they can develop both academic and practical skills, we are deeply committed to ensuring they have access to computers and other forms of technology that will be critical to utilize during their academic careers and future employment,” said Walter Wallace, CBO of GHCHS . “We are very pleased that TEQlease Capital was able to provide us with flexible equipment lease financing that meets our needs as well as our budget.”
With the approved and now funded lease, GHCHS will be expanding its three visual and performing arts computer laboratories used by over 220 students in the following instructional areas: digital imaging and cartoon/animation; yearbook and photo production; and music technology. In addition, computers in the music technology laboratory have specialized interfaces to receive input from guitars and musical keyboards.”