Question 1

How do I apply for ROOM Financing?

Accepted Answer

It’s simple, and takes just a few quick steps. First, in your shopping cart or checkout flow, select ‘Pay Monthly’ and provide your company legal name, contact information, and address, along with any additional information required to approve your application. Simply follow the outlined steps, and the application will be automatically submitted to our financing partner, Ascentium.

You will receive an e-mail notification regarding your approval status the next business day, and the ROOM team will follow up with your order shortly after. Once everything is approved, you will receive an invoice with detailed payment information.

Please note that ROOM Financing is currently only available for U.S. customers.

You can view the Application Form from Ascentium here.

Question 2

Are there any restrictions to apply for ROOM Financing?

Accepted Answer

ROOM Financing is only available for product orders over $5,000.

Furthermore, we currently cannot support financing for sales to a non-business entity. When submitting your application, you’ll be requested to provide your full company legal name, including ‘Inc.’ or ‘LLC’, along with an associated business address, so we can move forward seamlessly with the financing process. Any company interested in financing must have been in business for two years.

Question 3

Will applying for financing affect my businesses’ credit score?

Accepted Answer

Unlike personal credit scores, business credit is public information and viewings will not affect your ability to leverage any other financial vehicle. In other words, your ROOM financing application will not affect your credit score in any way, unless we ask you to provide further personal credit information to approve your application.

Question 4

Can I combine discounts with financing?

Accepted Answer

If you qualify for any discounts, you must choose between financing or promotional discounts. We’re unable to offer both for the same order as ROOM financing includes a discounted interest rate.

Please reach out to sales@room.com with any additional questions related to pricing or discounts.

Question 5

Can I rent a ROOM office phone booth or meeting pod?

Accepted Answer

Our modular office products are only available for purchase and not currently available to rent. If you’re looking for a more cost-effective option, you might look to our monthly financing program with a low monthly fee for a 36 month term.

Question 6

What are the criteria for ROOM financing?

Accepted Answer

ROOM partners with Ascentium for our financing program. The minimum requirements are as follows:

On most of our transactions, Ascentium requires a personal guaranty from individuals who represent a minimum of 51% of the applicant’s ownership.
All personal guarantors and business signers must be permanent U.S. residents or U.S. citizens.
Applicants may be considered without personal guarantors, but they may require financial disclosure or stronger commercial credit characteristics.
A minimum of 2 years in business unless the application is submitted with a corporate guarantor that has more than 2 years in business with common ownership in a related field or industry.
A FICO score of 650 or greater, and authorization to pull credit, for all personal guarantors.
No bankruptcy in the last 10 years.

You can learn more about Ascentium's financing requirements on their website here.

Financing

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