Southern Virginia University recently worked with TEQlease Education Finance to acquire school equipment needed throughout campus to improve the university’s HVAC system and to improve athletic facilities. Because the equipment types were completely different, the transactions were documented in two equipment schedules under a master equipment lease financing agreement.
The athletic equipment financing consisted of 10 Row Portable Bleachers supplied and installed by Forest Hill, Maryland-based TJ Distributors, which are installed behind basketball hoops, and 2 Spalding portable basketball backstops supplied by Norfolk, Virginia-based Basketball Productions International. The HVAC system project was for the Durham Hall HVAC Remodel, for which a complete Mitsubishi City Multi Air Conditioning System supplied by Varney, Inc. and installed by Lexington, Virginia-based Clark Electric Co.
"TEQlease has been a tremendous partner of ours over the years,” said Southern Virginia University Controller Trent DeSpain. “They have worked with us in innovative ways to solve our university’s unique leasing and financing needs.
Southern Virginia University is a private, self-reliant, residential university aligned with The Church of Jesus Christ of Latter-day Saints and its principles and values. Its mission is to gather faithful Latter-day Saints and like-minded students, lift them in intellect, character, and spirituality, and launch them into successful lives and careers.
TEQlease Education Finance specializes in providing best-in-class equipment lease financing solutions for public, private, charter and religious schools across the United States. TEQlease Education Finance focuses on providing unparalleled service and on lowering acquisition finance costs, working with customers and equipment vendors through the entire equipment acquisition financing process. TEQlease Education Finance is a division of TEQlease Capital, founded in 2000 in Calabasas, California. For more information, visit https://www.teqlease.com/education_equipment_financing/