Qualifying for a commercial line of credit is fast and easy with little preparation. So why not straighten up your financial world? As you check out which financial institution is right for you based on all the things they offer, take a moment to be "ready" and "set" before you "go."
Before Borrowing for Your Fleet,
Learn about Commercial Credit
Here's What You Can Do to Help
Speed Things Along:
- Ensure your company information is up to date with the credit bureaus
- Be ready with your legal business name, as filed and registered with your local Secretary of State
- Gather tax returns for the last few years or provide CPA-reviewed or audited statements
- Know what your commercial vehicle needs are and whether you want to lease or buy
- Consider that you may be required to have a down payment ready
Here's a look at what lenders
Usually Check Out:
- Your business's credit, such as the score, payment history and high credit amounts
- Your personal credit if a personal guarantor is required
- Time in business and industry experience
- Your business's revenue and profitability trends for the last three years
- Your intended vehicle usage
Pro Tip:
A Ford Pro FinSimple Commercial Line of Credit takes the stress out of the vehicle financing process by granting you year-round coverage for all your vehicle financing and leasing needs. * So get started on the prep work now, and apply here when you're ready to grow your fleet.
*Subject to initial approval, ongoing eligibility and periodic reviews.
Gordie Boucher Ford of Kenosha