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California First National Bank is an internet-only bank with no branches.

California First National Bank is an internet-only bank with no branches.

California First National Bank is an internet-only bank with no branches.


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FAQ

Who is CalFirst Government and Education Group?
Why CalFirst Government and Education Group?
What are the advantages of leasing?
Why should I lease property instead of buy it?
What is a lease?
How much will it cost?
What types of property do you finance?
Can leasing help cash flow?
What asset ownership plans affect the lease-buy decision?
How does leasing compare with other financing options?
Can I delay the start of my rental payments?
Do you have a minimum transaction size?
What is the interest rate in a typical lease?
What should I do if I have problems with the property that I leased?
How do I find a contact at CalFirst Government and Education Group?
Can I upgrade and/or add property?
What is the minimum and maximum term that I can lease/finance?
How much software, services or support can I finance?
Can support and services be financed?
Is CalFirst Government and Education Group leasing available to individuals?
Where are you located?
How do I set up a lease with CalFirst Government and Education Group?


We provide a wide range of financing solutions that help schools acquire capital assets to provide the essential services to their constituents in a demanding budgetary environment. Combined with our affiliates we have over 25 years of experience in providing financing to government and not-for- profit institutions. Our expertise is unmatched in the industry. We understand the needs of our customers and can offer simple and flexible financing solutions with the personal service you deserve.

Who is CalFirst Government and Education Group?
CalFirst Government and Education Group specializes in serving the special lease financing needs of public and private schools and municipalities.

CFLC is an affiliate of California First National Bank and a subsidiary of California First National Bancorp ("Bancorp"). Bancorp is a large publicly-traded financial organization whose principal operations through its subsidiaries, include leasing and banking services. Bancorp is traded on NASDAQ under the stock symbol CFNB.

Why CalFirst Government and Education Group?

  • Finance property acquired through multiple vendors and /or any vendors
  • We are a national bank operating as a direct lessor, not a broker
  • Master Lease
  • We provide solutions to everyday problems in operating your school or government
  • Experience
  • Flexible: Structure designed to fit your needs

What are the advantages of leasing?
Unlike other financing methods, CalFirst leasing solutions are generally equivalent to 100% financing because no down payment is required. Lease payments also generally are lower, and leasing offers flexible solutions depending on your specific school's needs. 

  • Little or no up-front costs
  • Transactions closed quickly vs. public offerings / bonds/ etc.

Why should I lease property instead of buy it?
Leasing is flexible. A lease provides the use of property for specific periods of time at fixed rental payments and allows you to be more flexible in managing your personal property needs.

  1. Avoid putting off projects while increasing your buying power and decreasing your expenses. 
  2. No Blanket liens on assets and fixed rates. Many schools are locking it in now and will enjoy these lower rates for years to come. 
  3. Initial outlay is minimal.

Leasing is practical. By leasing, you are able to concentrate on using the property as a productive part of your school without having all the concerns that come with property ownership.

Leasing is cost- effective. Property may be expensive and some costs can be unexpected. When you lease, your risk of having to operate with potentially obsolete property is lower because you can upgrade or add property to meet your changing needs.

Leasing allows you to stay on the cutting edge of technology. Business managers have learned that the primary benefits of higher productivity and profit come from using property, without owning it.

Leasing helps conserve your operating capital. Leasing keeps your other lines of credit open, helping to better manage your balance sheet. You don't tie up cash in equipment and you avoid costly down payments.

What is a lease?
A lease is a contract where one party (the "lessor") gives another (the "lessee") exclusive rights to use and possess its property or equipment for a specified period. The contract will require the lessee to make fixed periodic payments (or "rentals") to the lessor for the use of the leased property. 

Lease arrangements can be structured in a variety of ways to suit the needs of the lessee. Leasing can also be especially beneficial in the information technology area, where many schools opt to finance acquisitions of computer systems because the life cycle of technology is so short.

How much will it cost?
Lease costs depend on factors such as the value of the property being financed, the frequency of payments and the length of the lease. For more information please contact our lease professionals at (800) 496-4838, ext. 358.

What types of property do you finance?
Most personal property used in schools and businesses in the United States is generally acceptable for leasing. Exampes include:

  • Security equipment
  • Telecommunication equipment
  • Personal and laptop computer systems
  • Tenant improvements
  • Video recording and editing equipment
  • Accounting systems, including hardware, software, installation, and training
  • Furniture, fixtures and more! View our Equipment Leased page for more info.

Can leasing help cash flow?
Increasing cash flow may simply mean reducing payments you make each month. A lease can help increase cash flow because rental payments are usually less than debt financing payments. This represents real cash savings.

What asset ownership plans affect the lease-buy decision?
Your plans for the property you're acquiring will affect your decision to lease or buy. You should answer the following:

  • How long will you need the property?
  • What is its expected useful economic life?
  • Will new technology increase the chances that the property may become obsolete?
  • How will inflation affect its market value, particularly if you have to replace it?
  • What is the value of cash savings from leasing to your school?
  • When the lease matures, will the expected value of the property be offset by benefits of lower rentals during the lease term?

How does leasing compare with other financing options?
Leasing is most advantageous for schools with limited budgets and schools wanting to protect against technology obsolescence. When acquiring new IT assets, payment choices include cash purchase, loans, lines of credit and leasing. Leasing compares very favorably with each of these other payment options in that it offers a combination of:

  • Minimum initial cash outlay
  • Fixed payments
  • Ease of upgrading and adding additional property
  • Avoidance of possible technological obsolescence
  • Possible tax and accounting benefits
  • No blanket liens with a lease

Can I delay the start of my rental payments?
Yes. For qualified customers, the first rental payment can be deferred by up to 12 months (subject to approval). Bear in mind, however, that this will affect the overall lease rate.

Do you have a minimum transaction size?
Our minimum transaction size is typically $100,000 or greater.

What is the interest rate in a typical lease?
Since you are leasing and not taking out a loan to finance the purchase of property, there is no "interest rate" in the traditional sense. It's more like leasing office space or renting a movie on video. You're paying to rent the property, and the monthly payment is based on the type of leasing plan you choose, the terms of the lease, and the cost of the property.

What should I do if I have problems with the property that I leased?
The supplier, manufacturer or vendor providing the property is solely responsible for service or warranty issues. However, CalFirst Government and Education Group will assign to you any warranty rights we receive from the supplier, manufacturer or vendor.

How do I find a contact at CalFirst Government and Education Group?
Customer Service - If you have any comments or questions regarding our lease programs, please contact our Customer Service Department at sales@CalFirstGovEd.com

Sales Questions - If you have any comments or questions regarding our lease financing, please feel free to contact our sales professionals at 800-496-4838, ext. 358 or simply e-mail us at sales@CalFirstGovEd.com.

Can I upgrade and/or add equipment?
Yes. We're a service company and, in particular, our use of a master lease agreement easily facilitates annexing lease schedules for upgrades and/or adding additional property. Property, subject to our credit review and approval, can always be upgraded and/or added.

What is the minimum and maximum initial term of a lease?
A typical initial lease term is 36 to 60 months. However, we will consider initial terms of shorter or greater length. In most cases, we rely on you to accurately assess the term that your operation needs; however, based on the type of asset(s) being leased, your financial objectives and our evaluation of your credit we may suggest a maximum initial term of the lease.

How much software, services or support can I finance?
It depends on a number of factors. Decisions are made on a case by case basis.

Can support and services be financed?
Yes. Fees for maintenance and support may be financed over the lease term. All leased property must be maintained while on lease.

Is CalFirst Government and Education Group leasing available to individuals?
CalFirst Government and Education Group offers commercial leasing only to business customers, not to individual consumers.

Where are you located?
Our offices are located in Irvine, CA; telephone 800-496-4838, ext. 358.

How do I set up a lease with CalFirst Government and Education Group?
You may call us at our toll free number (800) 496-4838, ext. 358 or email us sales@CalFirstGovEd.com.