Whaddya' think?

[frederic]

You also have to remember that this is an older buliding and I would have to make it all age user friendly.

Yeah, but if you bought the building for "a buck", that leaves plenty of business loan available for making an interesting strip mall!

 

[frederic]

Yea, but you gotta have the "capitol" first to make capitollism work. Like they say, "it takes capitol to make capitol"

Actually the line is:

"It takes money to make money."​

Notice the period at the end of the sentence, and the lack of qualifiers. There is nothing stating it has to be *your* money. About a decade ago I jumped into the dot-com-ISP business, and got a business loan from a well known bank.

The collateral? The business itself.

My "investment" was $70 in portfolio covers, color copies of the business plan inside, plus gas and tolls to make four trips to the bank pitching my idea to different sets of iguana-brained bankers.

 

[frederic]

I fully respect the choices and opinions of everyone here on this forum. While we all, most likely, wouldn't/couldn't agree on that subject, we ALL share a love for the artform called recording.

I'm not particularly religious, probably because my parents are extremely religious, and I burned out on it at a young age.

Anyway, keep this in mind - the "church" is not the structure - it's the people and their love of "God".

Now you won't feel bad when you cut up the first pew to make a console table

 

[RICK FITZPATRICK]

The collateral? The business itself.

So let me get this straight. Banks will lend money for a business that doens't exist untill you get the loan, yet they are using the "potential" of a business that doesn't even exist yet as collateral? Hmmmmm,

And if it fails, where is the collateral then? Or the ability to pay back the loan.

Hmmmmm, Iquana brains is a massive understatement.

Actually, I haven't had a credit card since 1969, nor do I ever want to owe a dime to a bank. Even my home is under a loan in my wifes name only. I HATE BANKERS. I'm solvent and I like living that way. They can kiss my ass.
Especially the ...FEDERAL RESERVE THEIVES But thats another novel.

 

[frederic]

So let me get this straight. Banks will lend money for a business that doens't exist untill you get the loan, yet they are using the "potential" of a business that doesn't even exist yet as collateral? Hmmmmm,

I was buying an existing business, that was managed poorly (an ISP). In this case the colateral was the business.

Some banks will loan money based on ideas, with a personal guarentee. I've done that as well. Some banks require colateral.

If bank 1 doesn't give you an acceptable answer, there are banks 2-107,561,029,875,038,475 to ask for money.