DUBUQUE, Iowa, December 1, 2016—Beginning today, government entities will be able to finance the use of their Operations Management System (OMS) software through a first-of-its-kind agreement between Cartegraph and U.S. Bank. The strategic agreement aims to help states, municipalities, and local governments overcome budget challenges and acquire the essential software they need to manage their assets, deploy resources effectively, and spend money smarter.
“Cities manage millions and sometimes billions of dollars in infrastructure assets each and every day, and they use Cartegraph OMS to protect those investments by understanding what they have, what condition it’s in, and how much it’s worth,” said Jake Schneider, President and CEO of Cartegraph. “Through our agreement with U.S. Bank, we can now provide our clients the option to manage their cash flows with tailored payment plans as opposed to one annual sum—and that’s going to make a world of difference for them.”
Through U.S. Bank’s Government Leasing and Finance Group, Cartegraph customers will have a variety of products and services available to help them overcome budget restrictions and capital constraints. The customized program—featuring flexible terms and payment plans—is specifically designed to meet a full range of government requirements including tax-exempt lease purchase (TELP), operating leases, technology refresh leases, and project financing.
“U.S. Bank is known for bringing market leading solutions to government and non-profit entities to assist with their most important financial needs,” said Anthony Cracchiolo, CEO and President, U.S. Bank Equipment Finance. “We are pleased to team up with Cartegraph to make it easier for our clients to get the financial tools they need to be more successful.”
“Cartegraph is in the business of creating successful customers—but we can’t do that alone,” said Pete Engstrom, Cartegraph director of strategic initiatives and partnerships. “That’s why we’re proud to align with industry leaders, like U.S. Bank, to build a powerful ecosystem of innovative solutions.”
Founded in a basement in 1994 with four employees, Cartegraph develops software for forward-thinking cities, counties, and agencies. Designed to protect your $1 billion investment in public infrastructure, Cartegraph technology is built for public works, parks, pavement, signs, sewers, storms, and everything in between. By tracking the condition of your assets and managing the resources required to maintain them, Cartegraph empowers you to spend money smarter and run your city more efficiently. For more information, please visit www.cartegraph.com.
About U.S. Bank:
Minneapolis-based U.S. Bancorp (NYSE: USB), with $454 billion in assets as of September 30, 2016, is the parent company of U.S. Bank National Association, the fifth-largest commercial bank in the United States. The company operates 3,114 banking offices in 25 states and 4,875 ATMs and provides a comprehensive line of banking, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.