If your farm requires the use of trucks, tractors, planters, or other specialized machinery used in farming, you may wonder how you'll ever manage to get your hands on these essential items. Unless you have huge amounts of startup capital that can be budgeted toward such purchases, you'll probably need to lease your heavy equipment instead. This is a common practice that has helped many enterprises grow and thrive while controlling expenses.
If you have a low credit score (or no credit score at all), your chances of obtaining financing diminishes. Improving your credit score sounds complicated, but one way to get your credit record back on track is with a car loan.
1. You Need Both Revolving Debt and Installment Debt
Credit reports contain two basic types of financial accounts: revolving debt and installment debt. Revolving debt refers to credit cards, which make funds available over and over as previous balances are paid, while installment debts include most types of loans, from auto loans to home mortgages.