If challenges are what make life interesting, then 2021 was off the charts because there were some real doozies this year, including rising inflation and pandemic-related snarls in supply chains worldwide.
While certainly we’ve seen supply-chain issues before in specific industries where there is high demand for a product, we have not seen them under these circumstances or across so many industries and products like what’s happening now.
These are, in fact, unprecedented times.
Here at Baystone Government Finance, the municipal financing division of KS StateBank, we’ve had a number of fundings delayed by supply-chain shortages for everything from computer equipment to dump trucks.
But here’s a solution for our valued customers in the public finance marketplace: Vendor Payable Accounts (VPAs). In a nutshell, these are escrow accounts with limited paperwork and a locked-in interest rate. And they’re a prime example of how we will work to tailor a financial program to fit your individual needs and requirements.
As the crisis rolls on, Baystone Government Finance remains committed to helping government and non-profit entities finance much-needed equipment, infrastructure improvements and facilities so they may continue to grow and serve their community. With a VPA, we will place funds in an escrow account, mitigating the interest rate risk to the customer. VPAs provide a way to move forward and fund a lease even though the equipment delivery, for example, may be delayed for months or even longer.
Our customers appreciate this option during a period of uncertainty and disruption in the supply chain not only here in the U.S. but around the globe.
To find out more about how a VPA can work for you, please contact me at 913-748-4628 or dburr@ksstate.bank