A financing program tailored to assist you in the purchase of Rain Bird Golf Course irrigation products
Gain a Competitive Edge
Competition among golf courses has never been more intense than it is today. Golfers have higher expectations for course conditions, and attracting players is a challenge facing nearly every private, public or municipal course. The better the look and playability of your golf course, the more likely you are to experience success. Because irrigation plays such a critical role in maintaining the appearance of your course, renovating your current system will help you gain that competitive edge. Now, Rain Bird helps make your renovation even easier through its new financing program. From product upgrades to complete irrigation system renovations, Rain Bird Financial Solutions can customize a program that meets all of your irrigation and owner/member requirements.
Rain Bird has partnered with a leading lender in the golf course industry to create the Financial Solutions program. This lender has provided financial solutions to hundreds of courses, just like yours. Its credit officers have a great deal of experience working with various golf course ownership structures, and are always available to help you find the financing solution that meets your needs.
Term – Terms are tailored to meet the cash flow and/or tax objectives of the individual golf course. The term on control components is up to five years. In-ground pipe, wire and labor can have a term of up to 10 years.
Advance Payment – Advance payments are not required. A club can pre-pay as much or as little of the transaction as they choose.
Sequence of Payments – A club may delay the start of their payments to facilitate installation during the off-season. Continued seasonal payments that match the dues frequency of members, or the historical cash flow of the club are both offered.
Residuals – Clubs can have straight financing with no residual, or any fixed residual to meet cash flow objectives. FMV residuals are available on lease transactions, which allow for-profit clubs to expense payments and not have to schedule and depreciate the irrigation equipment.
Rate – For complete systems at well-established clubs with complete financial disclosure, rates are as low as 250 basis points over same-term U.S. treasuries. Rates are higher on smaller deals or on transactions with compromised credit. They are still comparable to direct bank rates on similar-sized deals with similar credit, and with no additional collateral.
Getting Started is Easy
- Work with your Rain Bird representative to determine the general dollar amount of your irrigation project and the approximate timing of installation.
- Discuss Rain Bird Financial Solutions with your Rain Bird distributor (that’s us!) and learn about the flexible and convenient options available to your course.
- With your permission, Rain Bird’s lending partner will contact the appropriate people within your club to obtain the required financial information. Rain Bird and its lending partner are also available to discuss these financing options directly with the appropriate owners or members.
Flexible & Convenient Financing
- Eligible projects begin at $10,000.
- Courses can be member-owned, for profit, municipal or federal.
- No real estate collateral is required. The cash flow and credit history of the golf course are usually sufficient to secure the borrowing.
- Generally, no assessment of the membership is required. The project can be paid for with a modest increase in monthly dues.
- Additional equipment—turf maintenance, golf cars, clubhouse/pro shop equipment—can be added to the same master agreement, and can help to secure a lower borrowing cost.
- Lease or finance capital is available for all hard and soft costs, including in-ground pipe, wire, installation, even design costs.
- Each month throughout the project, master documentation provides for progress payments to all vendors.
For nearly seven decades, irrigation has been Rain Bird’s only focus. Everything we do revolves around making irrigation products and systems work more efficiently and reliably. When you partner with Rain Bird and Rain Bird Financial Solutions,you can expect that we know golf course irrigation, and we understand how to make it work to your advantage.
To find out more about Rain Bird Financial Solutions, please click here to contact your local Keeling Golf sales manager.