Best financing?

Discussion in 'Starting a Lawn Care Business' started by atozauctions, Jul 14, 2006.

  1. atozauctions

    atozauctions LawnSite Member
    Posts: 14

    If I am looking to finance a machine in the company/corps name with the corp credit, which company tends to be more liberal with their approvals? I have perfect business credit, but I don't have an excess of it. 6 years of history with half a dozen trades that are mostly small. Problem being is my biz mastercard doesn't report as in biz credit, mastercards/visa seldom report. A pity since I have had my balance up to $20k and it now only has $200 balance.

    I havent had much luck with Deere or Cub/MTD... Cub commercial goes through GE which are eternally stingy (for example my Home Depot credit card was issued by Citicorp and they gave us a $17,000 credit line off the bat. Lowes commercial cards are issued by GE, and they gave us a whopping $1,000 off the bat.)

    I have even tried deals with Cub offering $5k down but GE didnt bite. are there any other equippment financers out there with more liberal approval criterea? thanks
     
  2. PMLAWN

    PMLAWN LawnSite Gold Member
    Posts: 3,535

    Amercian General has a test that you have to pass, They hold a mirror under you nose-- if it fogs up they will finance you. But it is crap to your score.
     
  3. atozauctions

    atozauctions LawnSite Member
    Posts: 14

    haha.... American General... as sub prime to to businesses as they are to consumers, eh? HSBC is the same way with the stores they back. What manufacturer uses american General? whoever it is could do better,,,unless they are getting a piece of the sub prime pie.
     

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