Designing a home or providing staging services as a growing company often requires the purchase of a van or similar vehicle to transport furniture, artwork and other design elements for the space. Before looking for an appropriate vehicle, finding financing solutions is a necessity for the continued growth of the company.
Obtain Credit Information
Business owners need a copy of the company credit report and a personal credit report before seeking an auto loan. According to CarsDirect.com, verifying the information in a credit report and disputing inaccurate data is important before seeking funds. If information is inaccurate, then it can lower the score and result in a denied loan.
Personal credit may or may not be necessary, depending on the auto loan and the amount of time since the company was established. Newer businesses will often need the owner’s credit information due to the limited information available on the company.
Read the Paperwork
Lenders are required to provide information relating to the loan. According to the Federal Trade Commission, the Truth in Lending Act requires full disclosure of details relating to the interest rate, terms, conditions and monthly charges on the loan.
Finding the right lender for the loan requires comparing the details. The contract will fully disclose all of the information and ensures the interest rate and payment plan is appropriate for the company budget.
Buying a van or truck to transport furniture and goods for a home staging or design company requires financing solutions. With a great credit rating and comparison shopping, it is possible to find an appropriate loan for the business.