My partners and I have recently started Screen Printing business. We planned to purchse the screen printing equipment first with a more long-term plan to purchase embroidery equipment. If a customer needed embroidery, we had decided to find a few local embroidery businesses and use them until we purchased the equipment.
Fortunately, we have the opportunity to purchase a larger embroidery machine for a great deal. A financial services company has a lien on a machine and we can purchase 1/4 of what is worth. We paid for an inspection and the equipment is in stellar condition.
All that said, the partners are now in "disagreement" on how to purchase. We have a credit line with a local credit union for 9% interest fixed. One partner wants to use a credit to purchase and use the credit line for smaller purchases. We will get 0% financing for a short period on the credit card BUT I do not want to get in the habit of using a credit card for larger purchases. My idea of using the card would be for more incidental expenses.