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Ask 'Em About the Money: Five Questions for Your Distributor (Conclusion)

Example: What are the finance package requirements?

OSHKOSH, Wis. — When you’re thinking of financing a garment care project, contact your distributor first! They work closely with lending institutions to offer flexible financing programs designed to meet different customer needs.

Moreover, the distributor is your local garment care expert. Partner with them early on about your garment care development project or equipment replacement project.

When it comes to financing, ask them the following questions (last three of five):

3. What are the finance package requirements for my specific financing program?

Your distributor will provide everything that’s required for your financing application in the form of a checklist. Every item on that checklist matters and must be completed and submitted, or there will be delays in processing the financing request. Depending on your program, there can be from two to 15 required items.

4. When will my equipment be shipped?

Once again, this question can be answered by your distributor. Generally a document is issued to the distributor from the lending company indicating all finance documentation has been signed. It’s typically after receipt of this document that equipment is shipped.

5. When is the first payment due?

Generally speaking, the first payment is due 30 days after funding.

To read Part 1, go HERE.