Financing

How It Works

Application: A business applies for a floor plan loan from a financial institution or lender.
Approval: If approved, the lender provides a line of credit specifically for purchasing inventory.
Purchasing Inventory: The business uses this credit line to buy inventory items.
Interest and Fees: The business pays interest on the amount borrowed and may also incur additional fees.
Repayment: As inventory is sold, the business repays the loan. Repayments are typically based on the sales of the inventory purchased with the loan.

Key Features

Revolving Credit: Similar to a credit card, the credit line can be used repeatedly as long as the balance is paid down.
Short-Term: Generally used for short periods, aligning with the typical sales cycle of the inventory.
Interest Rates: Can vary depending on the lender, the type of inventory, and the business’s creditworthiness.

Benefits

Improved Cash Flow: Enables businesses to maintain inventory levels without tying up significant amounts of cash.
Increased Sales: More inventory can lead to higher sales potential.
Flexibility: Often, businesses can adjust their borrowing as needed.

About Us

Started in 1952 from a small store in Brampton with a mission to continuously serve the GTA with quality flooring products, great pricing, and awesome customer service!

Get in Touch

PHONE: +1-226-807-6613

Email: info@hardwooddeal.com

Address: Brampton, Ontario, Canada

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By focusing on quality, customer service, and strategic marketing, Our Hardwood Flooring company can thrive in a competitive market. If you have more specific questions or need advice on a particular aspect of the business, feel free to ask!