How to finance a company vehicle?

I own 80% of a small agricultural business. My partner, who owns the remaining 20%, have agreed to purchase a company truck. We're considering buying a 2006 Ford F250 with low mileage and some tasteful modifications for $17,500 dollars. We can't afford it in full. We were wondering whether we would get approved for a loan of a vehicle purchased through a private party.

I personally have bad credit (About 500), my business partner has near perfect credit(over 850), and the business does not have any credit history(or debt). The business has approximately $7000 in revenue a month, and about $1000-$3000/month in earnings.

What we can afford:
We can afford 20% down.
We can afford decent insurance.(Not sure if this is relevant.)
We can afford up to 22% APR.
Depending on how much we spend on insurance, we can afford between $400-700 in loan payments monthly.

You may want to consider leasing the vehicle. Ask your accountant or the IRS for details.
www.irs.gov
www.automotive-fleet.com

NO bank will finance thru private party. Try a fleet sale, and contact your local Small Business Association, sometimes they will have access to decent financing. Your partner will more than likely have to co-sign.