Exploring Financing Options As A Small Business - Page 4
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  1. #61
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    Jul 2019
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    Quote Originally Posted by allloutmx View Post
    Im still a ways away from a new machine day thread, but still eager as anyone else would expect to get my hands on " the next best thing". Having never borrowed money for the business I have no idea what to expect from a dollar stand point, when talking about a machine payment or a small business loan, nor do I know the significance between the two.

    What kinds of options are there, for example, in purchasing a VMC?

    As of now I do not own a seat of CAM or CAD... with that said, there is a XYZ dealer down the road that would probably suit me up in a new 123 mill 4th axis and a seat of %^&# CAM for 100ish K... What kind of terms do they give you on something like that?

    The other option I am curious about is should I go to a local bank and try to get some sort of loan, and purchase a decent used VMC, CAM and some misc tooling etc.... What would the terms on a 70K loan look like?

    Im hoping this will better help me understand where I need to be on the business side of things as far as gathering a dollar amount of sales per month. I still have a decent day job and Im steadily progressing there which helps fund my current "investments". Everything I have now is paid for but I wouldnt say its more than 10k in used machinery etc...that might be a stretch too.

    Any insight would be greatly appreciated.
    Hey, dude. You aren't sure, because loan without collateral means that the money you borrow is not tied to a specific material item, as you usually do when taking out a mortgage or car loan. The bank then pledges the home or car, thus taking the item as collateral. If the bank defaults on the loan and does not pay the installments, the bank will be able to sell the items to cover the outstanding installments. With an unsecured consumer loan, the bank does not have a guarantee to recover its money. This is also why interest rates will be higher here, then on traditional bank loans with collateral as collateral. If you want to know more about it, than you can make available for perusal Lånemegleren's work reading at their site.

  2. #62
    Join Date
    Oct 2005
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    UNITED STATES
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    Quote Originally Posted by Deadlining View Post
    Hey, dude. You aren't sure, because loan without collateral means that the money you borrow is not tied to a specific material item, as you usually do when taking out a mortgage or car loan....

    blah blah blah

    More (much) Mindless spamming

    Blah, blah, blah

    . If you want to know more about it, than you can make available for perusal brains filled with spam's work reading at their site.
    Hey Dude !

    The op asked qty (3.5) years ago, and things have since changed in his situation.

    Your nothing but a spammer.


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