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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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Lease & Loan Types

Fair Market Value (FMV):
This program is ideal for a school or school district looking for solutions to help reduce its total cost of ownership by utilizing planned rotation/replacement of information technology systems. You benefit from:

  • State-of-the-art technology at a fixed monthly payment
  • No obligation to purchase when the lease expires
  • Reduced repair and maintenance expenses
  • Lease terms closely matched to your expected use of the leased property

Our variety of lease structures keeps pace with the rapid changes in technologies and makes them available at an affordable cost. This Fair Market Value agreement leads to lower monthly payments and an orderly schedule to replace and/or upgrade your technology assets. FMV leases are especially suited for schools that:

  • Anticipate the useful life of equipment to be three years or less
  • Utilize a return option as a way to manage technological obsolescence
  • Seek to build or maintain technological superiority

At the end of the lease, the Fair Market Value purchase option allows you to purchase the equipment at its then current fair market value, return the equipment and lease replacement equipment, or extend the term of the lease. The FMV Purchase Option has the lowest monthly payment to fit your budget needs. This type of lease is commonly referred to as a "Technology Refresh Lease."

10% Purchase Option:
This program is ideal for schools seeking to conserve cash by making lower monthly payments. Schools then can purchase the property at the end of the lease for 10% of the original acquisition cost.

$1 Buyout Option:
The $1 Buyout Option is intended for schools that want to own the leased property when the lease terminates. The $1 buyout is well-suited for schools that are building and expanding their computer labs, or seeking to reduce student-to-computer ratios. It enhances your purchasing power by providing the means to expand your computer resources while the technology itself continues to evolve.