JS Clark Leadership Academy Protects Its IT Investment with TEQlease

JS Clark Leadership Academy, located in Opelousas, Louisiana, has entered into an equipment lease transaction with TEQlease Education Finance. JS Clark Leadership Academy leased accessories for iPad Air’s provided by Otterbox. This is the fifth lease transaction TEQlease Education Finance has provided to JS Clark Leadership Academy.

“TEQlease Education Finance was able to assist us with our technology upgrade and acquiring all the equipment we needed,” said Tiffanie Lewis, CEO of JS Clark Leadership Academy. “Erika Aguirre and the rest of the TEF team worked very closely with us to develop terms that meet our budget requirements. They are really easy to work with.”

“We are pleased TEQlease Education Finance was again able to provide JS Clark Leadership Academy the lease financing the school needed to maintain its technology,” said Mike Lockwood, President of TEQlease Education Finance.  “Just as with JS Clark Leadership Academy, we can customize lease financing solutions for any school, and we take pride in doing it well.”

What is a $1 Purchase Option Lease?

A $1 Purchase Option Lease is one of the two most common leases that businesses use to acquire equipment today. The other is a Fair Market Value Lease . Each type of lease is useful, depending on the type of equipment and the type of anticipated use. A $1 Purchase Option Lease is often used by businesses or schools when they know they will still be using the equipment for an extended period after the end of the lease term.

Here are three things to know about a $1 Purchase Option Lease:

  1. Provides businesses the ability to purchase the equipment for a $1 at the end of the lease term.
  2. Monthly payments are higher than a Fair Market Value lease because the lessee is now financing 100% of the equipment cost.
  3. Provides additional financial benefits that may include depreciation and interest expense benefits for tax purposes.

Not sure which type is best for your business? Please contact us and we will walk through the options with you.