Who is CalFirst Hospitality Finance Group? Can progress payments be incorporated into a lease financing? What types of property do you finance? Do leases have fixed terms? How can I lease equipment if my mortgage lender does not allow any other real estate financing? Can I upgrade equipment after the lease is in place? Our franchisor is requiring us to upgrade our Property Management System (PMS) and our bank will not finance soft costs (software & installation). Since this project consists of mostly software, can it be financed? Why shouldn't we just include the furniture/fixture financing with our mortgage? Q : Who is CalFirst Hospitality Finance Group?   The Hospitality Finance Group of California First Leasing Corporation ("CalFirst Leasing") is a nationwide leasing company that provides cost-effective lease financing alternatives through customer-driven, service-oriented origination groups. CalFirst Leasing is a subsidiary of Californiat First National Bancorp (Nasdaq: CFNB), a publicly traded, diversified financial services company with two primary businesses -- leasing of high-technology capital assets to businesses and organizations nationwide, and banking through an FDIC-insured national bank. Q : Can progress payments be incorporated into a lease financing?   Yes they can. Our leases are structured to meet the terms that have been previously agreed to between yourself and your vendor. In fact, once approved, we can even make any required deposit payments. Q : What types of property do you finance?   Just about any type of equipment and furnishings can be leased on highly favorable terms through CalFirst Hospitality Finance Group, including: Case Goods Computer Hardware Energy-Related Equipment Furniture and Fixtures Gaming Equipment Golf Course Equipment Kitchen Equipment Point of Sales System (POS) Property Management Systems (PMS) Security Systems Software and Services Telecommunications System Q : Do leases have fixed terms?   Lease terms are fixed and usually range between 24 – 36 months for technology and up to 60 months for long-term assets. We assume any interest rate risk by providing fixed rate financing. Q : How can I lease equipment if my mortgage lender does not allow any other real estate financing?   Our leases are secured by the equipment being financed and not by the underlying real estate. In some situations, wherein the equipment is attached to the real estate, we may need a waiver from your lender. However, in most cases, the real estate is not affected by our financing. Q : Can I upgrade equipment after the lease is in place?   Absolutely. You can always add new equipment to a lease. When it's important to obtain replacement equipment, we will work with you to structure a new lease that incorporates the new equipment. Q : Our franchisor is requiring us to upgrade our Property Management System (PMS) and our bank will not finance soft costs (software & installation). Since this project consists of mostly software, can it be financed? We can finance all types of hardware, software and installation costs. While many of these asset types do not have much liquidation value, they certainly have a great deal of "in place" value and are an integral part of your business. That's what's important to us. Q : Why shouldn't we just include the furniture/fixture financing with our mortgage? As compared to real estate, Furniture/fixtures are relatively short-term assets. When including short-term assets into a long-term financing, you run the risk of upgrading the assets well before you have finished paying for them.