My thinking on a brand new course would be to try to solicit lifetime sponsors for an amount that would cover the cost of the target and tee (including installation). And then try for more time-limited sponsorships to cover maintenance and tourneys/leagues. Even if you've already got the funding in place for targets and/or tees, I think potential sponsors feel better about giving if there's a tangible benefit to their donation. Easier for them to justify "buying" a basket and tee pad for a course than giving money that will be used for more obscure benefits like maintenance.
I've seen a few courses that put the lifetime sponsor on the target (a plaque or decal on the band), but still had a sign at the tee for another sponsor whether it was an annual thing or just a tournament thing.