Beacon Funding Finances North Suburban YMCA’s HVAC Upgrade
Beacon Funding announced that its Bankers Leasing Group has successfully completed a finance project with North Suburban YMCA. Beacon Funding structured a $600,000 multi-draw capital lease to fund a new HVAC system which was installed during the Q4/14. Final control work and testing will be completed this month.
Northbrook, IL-based North Suburban YMCA (NSYMCA) opened in 1968 and serves communities in the Northern Suburbs of Chicago with the goal of building spirit, mind, and body through hundreds of activities and classes available to the youths of the area.
Since 2008, NSYMCA has been in the process of replacing the building’s nine HVAC systems with new, energy-efficient systems for its 80,000-square-foot facility. The facility’s most recent HVAC system upgrade, financed through Beacon Funding, will more resourcefully deliver comfort to YMCA members and staff.
“After 48 years of use, these systems are on their last legs,” said Howard Schultz, CEO North Suburban YMCA. “This particular HVAC system was failing us, but we still needed to fund this project in the most cost-efficient way possible. Beacon Funding made it possible for us to quickly and efficiently replace this system with financing that was affordable while remaining effectively feasible for us to move forward.”
“Beacon Funding, through its Bankers Leasing Group division, was honored to assist such an important and active organization in our community with this mission critical HVAC financing project. We are also honored to be a proud sponsor of North Suburban YMCA via its capital campaign,” said Jeff Armstrong, vice president of Beacon Funding’s Bankers Leasing Group.