Financing follows the project scope
Financing should be considered after the proposed equipment and work have been defined. That allows the customer to compare the actual project amount, term, payment schedule and total borrowing cost.
Approval and terms
Availability, eligibility, approval, interest, fees and payment terms are determined by the financing provider. No financing should be treated as approved until the provider issues confirmation and the customer reviews the full agreement.
Questions to ask
- What is the total amount financed?
- Is the rate fixed or variable?
- Are there setup, administration or early-payment fees?
- When does the first payment begin?
- What happens if the project scope changes?
Important
Programs, eligibility, rates and terms can change. The relevant provider or program administrator makes the final decision.