Category: Equipment Financing
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Understanding Privacy and Eligibility in Construction and Agricultural Equipment Financing: Consumer vs. Business Loans
When purchasing construction or agricultural equipment, financing options often come into play. However, there is a significant distinction in how financing works for individual consumers compared to businesses. A crucial factor that shapes this difference is privacy and eligibility requirements, which influence why most dealers prioritize offering financing for businesses over individuals. Privacy Considerations Consumer…
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Can I Get Financing for Construction or Farm Equipment? Here’s What You Need to Know
If you’re looking to finance construction or agricultural equipment, knowing the main requirements and options can help you prepare for the application process. Here’s a quick guide to assess your chances and improve your approval odds. 1. Debt-to-Income Ratio (DTI) Your Debt-to-Income (DTI) ratio is crucial when seeking financing. OEMs (Original Equipment Manufacturers) usually accept…