• United Financial supports Municipal Governments and On-Behalf-Of Agencies primarily in North Carolina, South Carolina, Tennessee and Virginia.
  • United Financial specializes in fast response and in-person servicing for On-Behalf-Of-Agencies and City, Town and County governmental units.
  • United Financial is a division of HomeTrust Bank.


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    New Vehicles and Equipment Finance

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    Pre-owned Vehicles and Used Equipment Finance

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    Facility Finance

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    Practically any Essential Use need can be Financed

  • Our goal is to accelerate your ability to purchase the vehicles and equipment you need, when you need it.
    • We have proudly served over 1,000 clients over the past 30 years
    • We will come to you so you will know your financing partner as well as your financial documents
    • We provide financing directly to you, no broker fees or commissions
    • We charge no direct bank origination fees
  • Our process is designed to fit your deliver timetable and budgetary constraints
    • Funding up to 100% of your project costs
    • Monthly, Quarterly, Semi-Annual or Annual payments available
    • We are familiar with the North Carolina Local Government Commission (LGC) and other regulatory requirements.
    • Contact us and let us tailor a financial program that works the way you want it to work


How Does the United Financial finance program work?

There are just “Three Primary Steps” to enable you to gain financing for the Essential Use Asset you need.

  • Step 1: Complete our Online Customer Profile form ( and submit your financial information*
  • Step 2: Meet with us at your location to sign the finance documents.
  • Step 3:  Send us an invoice when it is time to pay for your purchase.

*We are also available to meet with you in-person to explain our process and to collect the information needed.

How can United Financial save you money?

  • No broker fees or commissions for you to absorb.  We are a direct lender; the transaction is between your department and us.
  • We emphasize tax-exempt funding and pass these savings on to you
  • You also benefit from additional savings from our tightly controlled overhead costs. 
  • We do not charge any direct bank origination fees.

What if we finance longer than 15 years if our budget requires a lower payment?

  • Extended amortizations up to 20 and 25 years are available depending on the useful life of the item being financed. 


  • The rate is fixed for the first ten-year period.  After the first ten years, there are rate adjustments at five-year intervals. 


  • Call us for further explanation of extended-term products.

What can be financed by United Financial?

  • We finance new and used Essential Use Assets as well as new facility construction and existing facility improvements. 
  • We can refinance existing debt of essential use assets and facilities. 
  • We will make every attempt to support your needs, however, our preference is to finance a minimum of $25,000 up to a maximum of $10,000,000.
  • Call us to discuss your needs, we will consider requests that are either above or below our loan amount guidelines.

What financial information do I need to provide?

  • Customer Profile


  • Names of who is authorized to sign documents


  • Most current three years of fiscal year-end financial information


  • That’s it!

What is a Tax Exempt Municipal Lease/Purchase Agreement?

A Tax-Exempt Municipal Lease/Purchase Agreement is essentially an installment sale contract, which fully amortizes during the term of the agreement. There is no balloon payment, or purchase option at the end. When all the payments are made your organization owns the financed item free & clear. The equipment is titled in the name of the Lessee and the Lessee owns it from day one. The issuer (lessee) is able to acquire and utilize vehicles, equipment and/or facilities and pay for them over a specified time period.  When structured properly, the interest portion of the lease payment is exempt from federal and state income tax, for the lender, resulting in below market tax-exempt interest rates to the borrower.

Why is a Tax Exempt Municipal Lease/Purchase generally not considered debt?

A Municipal Lease/Purchase Agreement is a yearly obligation renewable at the option of the lessee.  The obligation is subject to the annual appropriation of funds by the borrower. In most circumstances, voter approval is generally not required for a public agency to enter into a Municipal Lease/Purchase Agreement. Terms of the transaction are fully disclosed in the organization’s annual financial statements and payments are considered an operating expense rather than debt.

Who is eligible to enter into a Tax Exempt Municipal Lease/Purchase Agreement?

Basically, any municipality, political subdivision or on behalf of agency of state, or local government who can issue tax-exempt securities, may enter into a Municipal Lease/Purchase Agreements. Examples: State & Local government agencies, special purpose districts, public hospital authorities, public transportation districts, school districts, etc. Fire Districts (including volunteer departments), can also enter into a Municipal Lease/Purchase Agreements, under a special provision of the Internal Revenue Service Code. The interest on these transactions can also be issued at a taxable rate where needed.

Why should Local Government consider Tax Exempt Lease/Purchase Agreements?

Tax Exempt Lease/Purchase Agreements can be a compliment to, rather than replacement of, traditional bond financing.  In most cases Tax Exempt Lease/Purchase Agreements can be a more timely, efficient, and cost effective means of financing essential purpose equipment and facilities.  There is also the consideration of Tax Exempt Lease/Purchase transactions generally having a lower overall cost of issuance, and having much simpler finance documents which will result in less costly legal fees and issuance costs. For issuers expecting to enter into multiple finance transactions over a specific period of time, additional savings can be achieved by use of a Master Tax Exempt Lease/Purchase Agreement.

What type of equipment qualifies for this type of finance?

Virtually any type of essential use equipment may qualify for a Tax Exempt Lease/Purchase Agreement.  In general, terms may be offered from two to ten years or more, depending on the useful life of
the asset.

Is my interest rate fixed for the entire term of the loan?

Yes, on amortization up to 15 years.


Tax Exempt Municipal Lease/Purchase Financing is designed to complement, rather than replace bond financing.  As Local Governmental units have become cognizant of the advantages of Tax Exempt Municipal Lease/Purchase Agreements over bonds, they have increased their utilization of this unique financing vehicle to satisfy many of their equipment and facility finance needs.  The advantages of Tax Exempt Municipal Lease/Purchase Agreements are as follows:

  • No Up-Front, Cash Down Payment

    These financings may provide for 100% of the equipment purchase price or facility construction cost plus related expenses.  The governmental lessee only makes periodic lease payments. Substantial down payments may reduce interest rates charged.

  • Tax-Exempt Interest1

    Properly structured, these transactions result in each payment representing some principal and some interest.  The Internal Revenue Service has determined that interest paid in this manner is exempt from federal income tax for the lender.  The interest may also be exempt from state and local income tax. Charter schools do not directly qualify for tax exempt financing.

  • No Public Debt is Created2

    Since the lease payments due in the transaction are subject to annual appropriation, the obligation created by the lease is not subject to constitutional or statutory debt limitations in most states.  Since public debt is not created, voter approval for a Municipal Lease/Purchase transaction is not usually required.

  • Matches Cost with Revenue Over Time

    Payment obligations correspond more closely to the useful life of the asset(s) financed by the lessee.  A full cash purchase charges one year's operating budget with the cost of an asset, which will be in use for several years. Lease/Purchase transactions can and should be designed to match the finance terms with the expected useful life of the asset, thereby spreading the cost over the budgets for all the years benefiting from the use of the asset.  Amortization can be designed on a monthly, quarterly, semi-annual, or annual basis or even on a SKIP payment basis.

  • Flexibility

    Shorter lead time needed to arrange the finance, as the procedural aspects of traditional bond financing may be much more complicated, by rigid constitutional requirements, which serve capital project financing control, but are inflexible for asset acquisitions and future refinancing’s.

All leases, loans and lines of credit are subject to credit approval.

1. Consult your tax advisor regarding the deductibility of interest and charges.

2. Consult your legal counsel regarding legal requirements of municipal financial transactions.