Where is HARMAN Finance available?
HARMAN Finance is available in the United States.

What type of products can be financed under HARMAN Finance?
All Harman Pro products, as well as most services and non-competitive products such as cabling, installation and
other gear.

Who is Quail Financial Solutions, I thought I was applying to HARMAN Finance?
Quail Financial Solutions was chosen by Harman as its finance administrator to deliver the best financial resources
available. With over 30 years experience, Quail is able to deliver structured, custom solutions through its extensive
knowledge of HARMAN products, diversified portfolio of lenders, streamlined and robust financing options and
exemplary personal service.

What terms are available?
Terms are generally 1 to 6 years. Please consult your HARMAN Finance representative.

What is the typical timeframe?
1. Application only transactions are typically decisioned within 24 hours of receiving everything. Larger financial package transactions can take a few of business days.
2. The entire process (from application to funding) has multiple steps involved. In addition to the typical
approval timeframe, the other steps are:
o Lender documentation – Typically 1 business days,
o PO issued to the Supplier – Typically within 2 hours of electronic documents being executed and
proof of insurance provided
o Equipment delivery – Dependent on product(s) availability (must consult with the Supplier)

What information is required to begin the process?
One-Page Application – The one-page application must be completed and submitted along with copies of the
preceding three months of business bank statements. If a sales quotation is available, that should be provided as
well. If not, the desired finance amount should be listed on the application. Full Financial Package – A full Financial
Package includes tax returns, financial statements, balance sheets, and/or debt schedule. This is often not required
and is typically requested when applying for a large finance amount or if the client does not have enough of a credit
footprint on their business profile.

When does the Supplier receive payment?
Funds are sent via ACH once all documents have been signed, proof of insurance provided, and a final verbal
authorization with the client is completed.

Can the Client make any changes to the order after a Lender PO has been issued?
Yes, provided the transaction hasn’t yet funded and the Supplier agrees. If a change to the existing order is needed,
an amendment reflecting the change is generated for the Client’s approval and signature. Upon receipt of the signed
amendment, a revised Lender PO is generated and provided to the Supplier.

When does the contract commence?
The contract typically commences after the Client signs the Delivery & Acceptance form and payment is issued to
the Supplier.

Prefunding: Prefunding is when a deposit or payment in full is required prior to equipment deliveries. The contract is
typically started when the prefunding is issued.
Interim Rent: Most lenders have set days to collect monthly payments such as the 5th, 15th and the 25th. If the
Delivery & Acceptance falls on the 9th for example and our Lender disburses Supplier payment on that day, the
Client will be charged interim rent from the 9th through to the 15th which is the next billing day.

What is a Commitment Fee?
This is just another word for a Good Faith Deposit. Once we have outlined the exact proposed terms, we may need a
commitment that the customer accepts prior to final approval and documentation. This is not a separate fee. It is
applied to the required advance payments due when documents are signed.

Are Advanced Payments required?
Typically, the first and last month of a contract are required along with the signed documents. However, it may be
possible to reduce this to one payment or even none, depending on the credit strength of the borrower.

Are there any pre-payment penalties?
No, the term pre-payment penalty applies to amortized loans. With Equipment Finance Agreements and Lease
Agreements, the contracts are designed to go to term. Monthly payments do not show a breakdown between the
principal and interest. You can always payoff the contract early but typically the lenders give little or no additional
interest breaks.  Generally, it does not make good business sense to buyout your contract early.

What is a Corp-Only Approval?
Corp Only Approval means that the Credit Facility is provided to the company based on its own credit footprint and
financial strength without any personal guarantees.
Will a Personal Guaranty affect my personal credit? 
No. Although sometimes Personal Guarantees are required, the debt is an obligation of the business. The
corresponding credit is reported by the business credit reporting services to the company credit record, not to
consumer credit reports.

What are the tax implications?
Consult your CPA. Generally, Lease Purchase Agreements and Equipment Finance Agreements are treated as Capital Equipment Acquisitions allowing for the expense of depreciation and interest. Operating leases and Bundled Services agreements may be partly or completely deducted as an operating expense depending on structure. This is
a decision the client needs to make with their CPA.
If I’ve already been approved and started my contract, can I apply for additional financing?
Yes, each contract is written as a stand-alone contract.

Will this be a coterminous contract?
It can be should the client want it drawn up that way.

Are you only able to finance the equipment, or can you also include sales tax, shipping, installation costs, etc.?
Yes we can include all of the above. Lenders typically like to keep the “soft costs” such as cabling, freight, training
and installation to less than 25% of the total financed amount.

Can I receive any reimbursements for payments I’ve already paid to the supplier, such as a deposit?
Yes, we can reimburse you for deposits made to your Supplier, we would require proof of payment verification.

What if I paid with a credit card?

This is also possible if you can show you have paid OFF the Credit card balance. However, reimbursements are not a
standard practice and require approval in advance. Approvals for reimbursements are subject to Credit’s discretion.
Credit may request additional information from the Client.