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Medical Diagnostic Equipment

Transaction Size:
$5,100,000.00

Customer Requirements:
A leading publicly held medical service company in Boston, MA received contracts to perform work at a large number of hospital sites throughout the U.S.
They required a leasing solution to:
  • Fund equipment located at hundreds of customer sites all over the U.S.
  • Pay for equipment as it’s installed over an extended timeframe.
  • Meet both strict budgetary and financial reporting goals.
  • Allow them to return equipment at lease expiration.

The Provident Solution:
  • A Lease Line of Credit that created lease schedules on a quarterly basis.
  • During each quarter, Provident paid vendors as required.
  • Our Lease qualified as an operating lease under FASB 13 and was carefully crafted to meet their budget requirements.
  • Our solution provided flexible end of term options which allowed them to either purchase, continue leasing or return the equipment.


CNC Lathe

Transaction Size:
$550,000.00

Customer Requirements:
An aerospace manufacturer in NJ required a new piece of manufacturing equipment that was made in Napeli, Italy. the vendor required progress payments totaling up to 90% of the equipment cost prior to the equipment being shipped. The customer was seeking a finance partner to make the payments over a 7-month construction period.

The Provident Solution:
  • We structured a lease facility that allowed us to make the required progress payments.
  • The lease was structured as a $1.00 Buyout lease per the customer's request.
  • Per our customer's preference, lease payments were tied to lease fundings. As such, payments escalated over time.


MRI and Copiers

Transaction Size:
$1,200,000.00

Customer Requirements:
One of the largest hospitals in Vermont required a new CAT SCAN. At about the same time, they were replacing aged copiers throughout the hospital.

The Provident Solution:
  • In order to provide the lowest lease rate we combined the two requirements under one lease while allowing for multiple vendor disbursements.
  • While the structures were combined into one lease we provided for different end of term lease options to accommodate their differing goals.
  • Our solutions allowed the Lessee to fulfill two requirements more cost effectively than either could have been completed.
  • Our invoicing identified the two projects separately to meet our customer's accounting department's preference.



Application Software and Consulting

Transaction Size:
$160,000.00

Customer Requirements:
A small private college in Denver, CO required new application software and related consulting services. However, their current budget was depleted. Additionally, several banks told them that because the project was 100% software and soft costs; it could not be financed.

The Provident Solution:
  • We funded the vendors as required but deferred the customer’s payment obligation until the beginning of their new fiscal year.
  • The lease was crafted to allow the customer to “lock-in” rates at the time of funding given they needed to plan accurately for the lease payments.
  • The lease was structured to include software maintenance charges, which the Lessee was told by others could not be included.

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