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    3 Replies Latest reply on Apr 22, 2009 9:24 AM by phanio

    I need to finance a vehicle for my llc how?

    promoking Newbie

      I am partner in a small but growing promo company. I am an llc with one partner. The past year my business has grown forcing me to purchase a vehicle besides my own personal one for business reasons.
      I can not finance one on my credit because I am still paying on the financing for my family vehicle. I am losing out on a potentinal 56,000 additional profit by not having this vehicle what should I do.
        • Re: I need to finance a vehicle for my llc how?
          LUCKIEST Guide
          I need to finance a vehicle, Welcome

          Who are you. It is very hard to post a reply without knowing you, your first name and a little MORE about you
          besides the fact that you are an llc and losing additional profit.

          Do you have an Accountant??

          Talk to me, LUCKIEST
            • Re: I need to finance a vehicle for my llc how?
              promoking Newbie

               

              Sorry for the bland introduction. My name is Shoun Burch I am 32 years of age, and am owner of Boom-Town Ent/ Countless Visions llc. I am also an Operational Specialist in The United States Coast Guard. Before I entered the Coast Guard back in 2005, I was a club promoter for two of the largest clubs and A Major recording company New York City Def Jam records, Club Exit NYC and BB Kings NYC. My self along with two partners gained enough knowledge of the business and resources to venture on our own and start our own business. The Boom-Town division of our company Specialize in putting together events providing all necessities venue, Dj, sound, lighting and entertainment. We also promote the event through guerilla marketing teqniques that have proven to be very effective.

               


              The Countless Visions Division offer Urban models an outlet to be seen and heard from through promotion and print work. We assist models to gain exposure through calendars, promotional materials and hosting events. We feature fresh new faces geared towards urban glamour with mass Hip appeal. Most women are not a size 0 and 5"10 in height. That leaves a vast majority of aspiring models with a great disadvantage of succeeding in the modeling industry. Countless Visions offer models various outlets to be seen and heard from through the right kind of exposure. We have been in high demand getting offers to host events in the NYC, Bos, DC, VA, NC and ATL area, but have been unable to meet some of these demands due to lack of a large enough vehicle To transport our crew. I am in desperate need of a vehicle.

               

              Our accounting has been done in house by me. I have considered outsourcing due to the growth of the business. Can you offer any advice or help?

               

              Thanks Promoking
            • Re: I need to finance a vehicle for my llc how?
              phanio Pioneer

              You can try a equipment loan or leasing company. These companies will finance your vehicle even if your credit is a bit subpar and your cash flow a little tight - business vehicles are considered business equipment. These companies only deal with equipment financing and understand your situtation and want to work with you. Plus, if you purchase a vehicle between now and the end of the year - you can accelerate the depreceiation of it to essentially include the entire purchase price - as part of the stimulus act of 2009.

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