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Fill in Your Ford Business Credit Application Template

The Ford Business Credit Application form is a document used by businesses to apply for credit from Ford Motor Credit Company. This form collects essential information about the applicant, including business details, ownership structure, and financial history. Completing the application accurately is crucial for establishing a credit relationship with Ford Credit.

Table of Contents

The Ford Business Credit Application form serves as a critical tool for businesses seeking financing through Ford Motor Credit Company. This comprehensive document requires essential information about the applicant, including the legal name, type of business, and years in operation. Applicants must provide their tax identification numbers and details regarding their primary and billing addresses. Furthermore, the form includes sections for owner and guarantor information, emphasizing the need for personal identification such as Social Security numbers and dates of birth. The application also captures financial details, including gross monthly income and previous employment history, which help assess creditworthiness. Additionally, it outlines the necessity for insurance coverage, especially for vehicles financed through the credit, and requires disclosures specific to certain states. Notably, the form ensures that all parties involved authorize Ford Credit to verify the provided information and maintain communication regarding the application process. Completing this form accurately is imperative for establishing a successful credit relationship with Ford Motor Credit Company.

Sample - Ford Business Credit Application Form

BUSINESS

CREDIT

APPLICATION

FC-7144

DEALER

CONTACT

LOCATION

PHONE	FAX

Legal Name:

Date of Birth (for Individuals):

DBA:

Proprietorship

Corp.

Sub S

LLC.

Partnership

Other:

Tax Exempt Number:

State-issued Organization # (not tax id #):

State of Organization or state of legal residence for individuals:

SOC SEC # / TAX ID #

Gross Profit (Monthly Income)

Type of Business

Yrs in Business

E-Mail and Website Address

Primary Legal/CEO Address: Street

City

County

State

Zip

Billing Address: Street

City

County

State

Zip

(if different from above)

Fleet Manager Name:

Phone #

E-mail Address

Garage Address: Street

City

County

State

Zip

Phone #

Fax #

Mobile Phone #

Contact Name

Owner/Guarantor: Name

Title

Address

PH#

Social Security / TN #

Date of Birth

Ownership %

Owner/Guarantor: Name

Title

Address

PH#

Social Security / TN #

Date of Birth

Ownership %

Note: Sole Proprietor, Individual Co-Applicant(s) or Individual Guarantor(s) must complete this section

Individual (First Name, Middle Name, Last Name, Suffix):

Social Security Number

Date of Birth

only

Home Phone

Own Home Outright

Living with Relatives

Driver’s License No. & State

(

)

Buying Home

Leasing/Renting

Lived There

Yrs.

Mos.

Individuals

Previous Employer / Business (if less than 2 years)

Address

Phone Number

do not wish to have it considered as a basis for repaying this obligation.

(

)

Monthly Income

Secondary Income *

Source

*Alimony, child support or separate maintenance income need not be revealed if you

for

Mortgage Holder / Landlord (Name & Address)

Mortgage Holder / Landlord Phone

Mortgage Payt / Monthly Rent

Complete

(

)

Name & Address of applicant’s nearest relative not in household

Relationship

Home Phone

(

)

Name & Address of applicant’s non-related personal reference known over one year

Relationship

Home Phone

(

)

Please use additional applications if more space is needed for multiple owner, quarantor or applicant information.

Have you previously done business with Ford Motor Credit Company (check one

Yes No) If yes, Acct #:

List other creditors you do business with:

Bank

City & State

Telephone #

Contact

Account #

Trade

City & State

Telephone #

Contact

Account #

IMPORTANT INFORMATION ABOUT ESTABLISHING A RELATIONSHIP WITH FORD CREDIT

For the purpose of securing credit from Ford Motor Credit Company ("Ford Credit"), each of the parties signing below (the "Undersigned") certifies that the above information is true and complete. The Undersigned authorize Ford Credit to: (i) check their respective credit and employment histories, verify income, and provide and/or obtain information about their credit experience with Ford Credit, and (ii) at any time, sell, transfer, or assign any credit secured from Ford Credit and any or all servicing rights with respect thereto, or grant participations therein or issue securities with respect thereto.

The Undersigned each consent and specifically authorize Ford Credit, as it may deem necessary or desirable, to forward any documentation and information which Ford Credit now has or may hereafter acquire in connection with any transaction between any of the Undersigned and Ford Credit to any potential investor, rating agency, and any other party involved in the sale, transfer, assignment, securitization, or participation transaction involving any credit granted to the Undersigned.

Ford Credit may receive from and disclose to other persons, including credit reporting agencies, financial information about the Undersigned and information about each Undersigned’s account and credit experience and each of the Undersigned authorizes any person to release to Ford Credit financial information about the Undersigned and credit experience and account information on the Undersigned. In addition, each of the Undersigned agrees that Ford Credit may receive from and disclose to any of its affiliates, any and all such information now or hereafter provided by the Undersigned to any of the foregoing entities, including without limitation present and future credit applications, financial statements and organizational documents. This is a continuing authorization for all present and future disclosures of financial information, account information and credit experience on the Undersigned made by Ford Credit, or any person requested to release such information to Ford Credit. The Undersigned each agree that a credit report bearing on such Undersigned’s credit worthiness, credit standing, credit capacity, character, general reputation, personal characteristics, or way of living may be requested in connection with this application and future requests for credit. Upon request from any of the Undersigned, Ford Credit will advise such Undersigned, as applicable, whether a credit report was requested and if such a report was requested, Ford Credit, will inform such Undersigned, as applicable, of the name and address of the credit reporting agency that furnished the report.

The Undersigned each agree that Ford Credit, its affiliates, agents and service providers may monitor and record telephone calls regarding my account to assure the quality of service or for other reasons. Each of the Undersigned also expressly consent and agree to Ford Credit, its affiliates, agents and service providers using written, electronic or verbal means to contact the Undersigned. This consent includes, but is not limited to, contact by manual calling methods, prerecorded or artificial voice messages, text messages, emails and/or automatic telephone dialing systems. The Undersigned each agree that Ford Credit, its affiliates, agents and service providers may do so using any e-mail address or any telephone numbers the Undersigned provide, now or in the future, including a number for a cellular phone or other wireless device, regardless of whether the Undersigned incur charges as a result.

SEE NEXT PAGE OF THIS FORM FOR IMPORTANT INFORMATION FOR CALIFORNIA, MAINE, OHIO, RHODE ISLAND, TENNESSEE, AND VERMONT.

Applicant Signature			Title		Date
I intend to apply for joint credit
	Applicant Initial Here
Co-Applicant Signature			Title		Date
I intend to apply for joint credit
	Co-Applicant Initial Here
Guarantor Signature			Title		Date
**If corporate guarantor, authorized officer must sign and show corporate title. If partnership guarantor, a general partner must sign and show ‘‘Partner’’ as Title.
		If individual guarantor, show ‘‘Individual’’ as Title.



				V. 2.4
FC-7144 (REV. February 17)		Please complete page 2 of this application for required transaction specific detail.

BUSINESS CREDIT APPLICATION - PAGE 2

VEHICLE INFORMATION - (All of the below information is tentative and subject to the terms and conditions of the applicable approval letter. Use additional application for multiple vehicles.)

Qty

N/U

Year

Make / Model

GVW

Serial / VIN #

Total CAP Cost

Residual %

Est. Payment

Installed equipment, body uplifts or add-ons, etc. > $1,000.00:

Total cost of body uplifts / add-ons: $

Qty

N/U

Year

Make / Model

GVW

Serial / VIN #

Total CAP Cost

Residual %

Est. Payment

Installed equipment, body uplifts or add-ons, etc. > $1,000.00:

Total cost of body uplifts / add-ons: $

Trade Detail: QTY:

Year

Make / Model

VIN #

Dealer Allowance

Leinholder

Payoff Amount

Will the vehicles be:

Used in Hazardous Material Transportation:	Yes	No
Used in People Moving Services:	Yes	No
Used in For-Hire Transportation:	Yes	No
Part of a Sub-Lease Arrangement?	Yes	No

NOTE SPECIFIC PROGRAM OR OTHER DETAIL:

Terms:

#of Months

#of Adv. Pmts.

Circle Skip Months:

J F M A M J J A S O N D

Other:

Cash Price	$
Net Trade	-

Cash Down	-

FET	+
Other Up Front Tax	+

Tags & Title	+
Cap Cost	$

Est. Payment	$

California Disclosure

Applicant, if married, may apply for a separate account.

Maine Resident

If your credit application is approved and you finance the purchase of your motor vehicle through Creditor, you will be required to insure the vehicle against loss or damage. Creditor requires collision coverage and comprehensive coverage or fire and theft coverage. In addition, if this application is for a lease, Creditor will also require you to obtain liability insurance.

You have the option to select an agent or broker of your choice, whether or not affiliated with Creditor. Obtaining insurance from a particular agent or broker does not affect credit decisions by Creditor, unless the insurance product selected violates the terms of your contract for the purchase or lease of the motor vehicle.

Ohio Disclosure

The Ohio laws against discrimination require that all creditors make credit equally available to all creditworthy customers and that credit reporting agencies maintain separate credit histories on each individual upon request. The Ohio Civil Rights Commission administers compliance with this law.

Rhode Island Resident

A Credit Report may be requested in connection with this application for credit. Vehicle insurance may be obtained from a person of your choice.

Tennessee Resident

You must maintain insurance during the term of the contract. You must give the Creditor evidence of this insurance. The amount and type of insurance must be acceptable to the Creditor. YOU MAY CHOOSE THE PERSON THROUGH WHOM ANY INSURANCE IS OBTAINED.

Vermont Resident

By signing this credit application, Applicant consents to your obtaining a credit report for the purposes of evaluating this application and to obtain subsequent credit reports, in connection with this transaction, for the purpose of reviewing the account, taking collection action on the account or for any other legitimate purpose associated with the account.

FC-7144 (REV. February 17)

↓ Ford Business Credit Application PDF

File Specs

Fact Name	Details
Form Identifier	The form is officially known as the Business Credit Application FC-7144.
Types of Business Structures	Applicants can choose from various business structures including Proprietorship, Corporation, Sub S Corporation, LLC, Partnership, and others.
State of Organization	Applicants must indicate the state of organization or legal residence, which is crucial for compliance with state laws.
Tax Identification	A Tax Exempt Number and State-issued Organization Number are required, but they should not be confused with the tax ID number.
Credit History Authorization	By signing the application, the undersigned authorizes Ford Credit to check their credit and employment histories.
State-Specific Disclosures	Important information regarding insurance and credit reporting is provided for residents of California, Maine, Ohio, Rhode Island, Tennessee, and Vermont.
Ownership Disclosure	Information about each owner or guarantor, including Social Security Number and ownership percentage, must be disclosed.
Joint Credit Application	Applicants can apply for joint credit, which requires initialing by both parties on the application form.

Ford Business Credit Application - Usage Guidelines

Filling out the Ford Business Credit Application form is a straightforward process. Once completed, this form will be submitted for consideration of credit. Ensure that all information is accurate and complete to avoid delays in processing.

Legal Name: Enter the full legal name of the business.
Date of Birth: Provide the date of birth if the applicant is an individual.
DBA: If applicable, fill in the "Doing Business As" name.
Business Structure: Check the appropriate box for your business type (e.g., Proprietorship, Corporation, LLC, etc.).
Tax Exempt Number: If applicable, enter your tax-exempt number.
State-issued Organization Number: Fill in the organization number, not the tax ID.
State of Organization: Indicate the state where your business is organized or where you reside.
SOC SEC # / TAX ID #: Provide your Social Security or Tax Identification number.
Gross Profit: State your monthly income.
Type of Business: Specify the nature of your business.
Years in Business: Indicate how long your business has been operating.
E-Mail and Website Address: Enter your business email and website, if applicable.
Primary Legal/CEO Address: Provide the full address of the primary legal or CEO.
Billing Address: If different, fill in the billing address.
Fleet Manager Name and Contact: Include the name, phone number, and email of the fleet manager.
Garage Address: Fill in the address of the garage, including phone and fax numbers.
Owner/Guarantor Information: Enter details for each owner or guarantor, including name, title, address, phone number, Social Security number, date of birth, and ownership percentage.
Individual Information: For sole proprietors or individual applicants, complete this section with personal details.
Previous Employer/Business: If applicable, provide information about previous employment or business.
Mortgage Holder/Landlord Information: Fill in the name and address of your mortgage holder or landlord.
Nearest Relative and Personal Reference: Include names, addresses, relationships, and phone numbers.
Previous Business with Ford Credit: Indicate whether you have done business with Ford Motor Credit Company before.
List Other Creditors: Provide details about other creditors, including bank and trade references.
Signature: Ensure all parties sign and date the application, indicating their agreement to the terms.

Your Questions, Answered

What is the Ford Business Credit Application form?

The Ford Business Credit Application form is a document used by businesses to apply for credit through Ford Motor Credit Company. It collects essential information about the business and its owners to evaluate creditworthiness.

Who should fill out the application?

Business owners, co-applicants, and guarantors should complete the application. Each individual must provide personal information, including Social Security numbers and financial details, to support the credit evaluation process.

What information is required on the application?

The application requires the legal name of the business, type of business entity, tax identification numbers, gross profit, years in business, and contact information. Personal details of owners or guarantors, including Social Security numbers and income, must also be provided.

How does Ford use the information provided?

Ford Motor Credit Company uses the information to assess creditworthiness. They may check credit histories, verify income, and share information with credit reporting agencies and potential investors. Consent for these actions is granted upon signing the application.

Can I apply for joint credit?

Yes, the application allows for joint credit. Both applicants must indicate their intention to apply jointly by initialing the designated section on the form.

What happens if my application is denied?

If your application is denied, Ford will inform you of the decision. They may also provide information about the credit reporting agency that contributed to the decision, should you request it.

Is there a fee to submit the application?

There is no fee to submit the Ford Business Credit Application. However, costs may arise later depending on the financing terms and agreements you enter into with Ford Motor Credit Company.

How long does it take to process the application?

The processing time can vary. Typically, you can expect a response within a few business days, but this may depend on the completeness of your application and the volume of applications being processed.

What should I do if I need assistance filling out the form?

If you need help, contact a Ford dealer or customer service representative. They can provide guidance on completing the application accurately and ensure all necessary information is included.

What if I have multiple owners or guarantors?

If there are multiple owners or guarantors, each must provide their information on the application. Use additional applications if more space is needed for multiple individuals.

Common mistakes

Incomplete Information: Failing to fill out all required fields can lead to delays. Ensure every section is complete, including legal names, addresses, and contact details.
Incorrect Tax Identification Numbers: Providing the wrong Social Security or Tax ID number can cause complications. Double-check these numbers before submission.
Neglecting to Disclose Ownership Structure: It’s crucial to specify whether the business is a sole proprietorship, corporation, or another type. This information helps in assessing creditworthiness.
Missing Signatures: All required parties must sign the application. Without signatures, the application may be considered invalid.
Overlooking Previous Credit Relationships: If you have done business with Ford Credit before, mention it. Not disclosing previous relationships can affect the evaluation process.

Documents used along the form

The Ford Business Credit Application form is an essential document for businesses seeking financing through Ford Motor Credit Company. However, several other forms and documents often accompany this application to provide a comprehensive view of the applicant's financial status and business operations. Below is a list of commonly used documents that may be required alongside the Ford Business Credit Application.

Personal Financial Statement: This document outlines the personal assets and liabilities of the business owner or guarantor. It helps lenders assess the financial health of individuals associated with the business.
Business Plan: A detailed plan that outlines the business's goals, strategies, and financial projections. This document is crucial for understanding the business's potential and how it intends to use the credit.
Tax Returns: Typically, the last two years of personal and business tax returns are required. These documents provide a clear picture of the income and expenses of the business, helping to verify the information provided in the credit application.
Credit Report: A report detailing the credit history of the business and its owners. Lenders often request this to evaluate creditworthiness and assess any potential risks associated with lending.
Business License: A copy of the business license or registration is necessary to confirm that the business is legally operating. This document helps establish the legitimacy of the business seeking credit.
Accounts Receivable Aging Report: This report provides insight into the business's outstanding invoices and the payment history of its customers. It is a useful tool for evaluating cash flow and overall financial health.
Bank Statements: Recent bank statements from business accounts are often required to demonstrate the business's cash flow and financial stability. These statements help lenders assess the ability to repay the credit sought.

By preparing these documents in advance, applicants can streamline the credit application process and enhance their chances of securing financing. Each document plays a vital role in presenting a complete picture of the business's financial situation and credibility.

Similar forms

The Ford Business Credit Application form shares similarities with a Small Business Administration (SBA) loan application. Both documents require detailed information about the business, including its legal structure, ownership, and financial history. The SBA application also emphasizes the need for personal guarantees from business owners, similar to the Ford application. This commonality underscores the importance of evaluating the creditworthiness of both the business and its owners when seeking financing.

Another document akin to the Ford application is the Commercial Credit Application used by banks and financial institutions. Like the Ford form, it collects essential information about the business's legal name, structure, and financial status. Banks often request details about the owners and their personal financial information, mirroring the personal guarantee aspect found in the Ford application. Both documents aim to assess risk and ensure that lenders have a comprehensive understanding of the applicants.

The Equipment Financing Application is another similar document. Businesses seeking to finance equipment purchases often fill out this application, which requires information on the business's financial health and ownership structure. Much like the Ford Business Credit Application, it includes sections for personal guarantees from owners, reflecting the lender's need to mitigate risk through personal accountability.

A Business Loan Application form also bears resemblance to the Ford application. This document typically asks for a variety of financial details, including income, business history, and ownership information. Both forms serve to establish a clear picture of the applicant's financial stability and repayment ability, making them vital tools for lenders in their decision-making processes.

The Franchise Financing Application is similar in nature as well. It is specifically designed for franchise owners seeking funding and requires information about the franchise agreement, business operations, and personal financial details of the owners. This aligns with the Ford application’s focus on understanding the business structure and the owners' financial backgrounds, ensuring that lenders have adequate information to evaluate the application.

The Personal Financial Statement is another document that shares similarities with the Ford Business Credit Application. While the Ford application focuses on business details, the personal financial statement provides an in-depth look at an individual's financial situation. Both documents require disclosure of assets, liabilities, and income sources, which helps lenders assess the creditworthiness of both the business and its owners.

The Commercial Lease Application is akin to the Ford application in that it collects information about the business, its owners, and its financial status. This document is essential for landlords assessing potential tenants, just as the Ford application is crucial for lenders evaluating creditworthiness. Both applications aim to establish trust and ensure that the applicant can meet financial obligations.

The Vendor Credit Application is similar as well. Vendors often require businesses to fill out this form to establish credit terms. Like the Ford application, it gathers information about the business's financial health, ownership, and credit history. This ensures that vendors can make informed decisions about extending credit to businesses, just as Ford does with its financing options.

Lastly, the Business Insurance Application shares some commonalities with the Ford Business Credit Application. Both documents require detailed information about the business's operations, ownership, and financial standing. Insurers, like lenders, need to assess risk before providing coverage or credit, making the information provided in both applications critical for their respective evaluations.

Dos and Don'ts

When filling out the Ford Business Credit Application form, it's essential to approach the task with care and attention to detail. Here are four important dos and don'ts to keep in mind:

Do: Ensure all information is accurate and complete. Double-check names, addresses, and financial details to avoid any discrepancies.
Do: Provide your Social Security Number or Tax ID accurately. This information is crucial for credit evaluation and should be entered without errors.
Do: Include all necessary documentation. Attach any additional applications if you have multiple owners or guarantors to provide a full picture of your business.
Do: Review the application for clarity. Make sure that your answers are clear and concise, as this will help expedite the review process.

Don't: Leave any sections blank. If a question does not apply to you, write "N/A" instead of skipping it entirely.
Don't: Provide misleading or false information. Honesty is crucial, as any discrepancies can lead to denial of credit.
Don't: Forget to sign the application. An unsigned application is incomplete and will not be processed.
Don't: Rush through the application. Take your time to ensure that every detail is correct and that you understand what is being asked.

Misconceptions

Misconception 1: The Ford Business Credit Application is only for large corporations.

This form is designed for various business types, including sole proprietorships and partnerships. Small businesses can also apply for credit, making it accessible to a wide range of applicants.

Misconception 2: Personal credit history is not considered.

While the application focuses on business information, personal credit history may still be reviewed, especially if the applicant is a sole proprietor or individual guarantor. This means personal creditworthiness can impact the approval process.

Misconception 3: The application is overly complicated.

Though it may seem extensive, the application is structured to gather necessary information efficiently. Most businesses can complete it with their standard financial documentation and basic business details.

Misconception 4: Submitting the application guarantees approval.

Approval is not guaranteed upon submission. Ford Credit reviews each application based on various factors, including creditworthiness and business history.

Misconception 5: Only established businesses can apply.

New businesses can also apply for credit. The application includes sections for reporting income and other relevant financial details, allowing startups to demonstrate their potential.

Misconception 6: The application process is lengthy and cumbersome.

The application process is designed to be straightforward. Many applicants find they can complete the form quickly, especially if they have their financial information readily available.

Key takeaways

When filling out the Ford Business Credit Application form, keep these key takeaways in mind:

Accuracy is crucial. Ensure all information provided is correct and complete. Inaccuracies can delay processing or lead to denial.
Understand your obligations. By signing the application, you authorize Ford Credit to check your credit history and verify your income.
Disclose all necessary information. Include details about all owners or guarantors, as well as any previous business with Ford Motor Credit Company.
Prepare for insurance requirements. Be aware that if your application is approved, you will need to obtain insurance coverage for the vehicle.