I'm opening a new mobile division to my business that is going to require a "mobile office studio" to attend approximately 30 events (all over the nation) per year.
At first I was thinking that perhaps a car hauler with living quarters in the front half may be a solution, but I am not sure that the studio space would be large enough in this configuration (basically the unit needs as wide of space in the rear as legally possible, and then office space, and then living quarters up front)...
..but I'm getting sidetracked
I'm new to the board and have been very impressed on the quality of information here - you guys are great and I really respect how readily you share your experience.
I'm looking for experience on finding financing sources for a truckconversion or a tractor\custom trailor rig...
Any recommendations on the best way to approach it? As a business assett? Personal RV? Vehicle loan?
What type of collateral are most institutions looking for against a rig of this type that is in the ~100K to 150K price range? (i.e. do most financial institutions poo-poo on the idea of a custom rig being collateral because of difficulty in resale?) I immigrated to the US from Canada in the last year so I've very little experience in dealing with US institutions except that I know they made me put $30K in cash down to get a loan to buy my 2004 BMW M3 - which is preposterous considering I had exceptional credit in Canada and this car is VERY easy to resell as its collectable (apparently its worse to have no credit history than terrible credit history in the USA.. argh... bug I digress).
Any info is appreciated. I've been self employeed for 11 years and have always been patient and built my business with money in hand.. but I have an opportunity that requires a mobile rig rather quickly and I need to jump on this faster than "saving up for" will allow. I would really appreciate advice on how to best approach financing for a "custom mobile office studio vehicle rig-a-ma-jiggy" without having them laugh at me
cheers and tia,
Edward
p.s. unless anyone has spare cash laying around and would like to make an investment in an exciting cutting-edge business for a decent roi ... lol