NEED A 75,000 LOAN!! Please help!!?
Sunday, 27. June 2010
I have had a dream know for about three years to start a boat repair business. I have been in the industry for about ten years now and know lots of people that could use my services. I have a huge mortage payment and feel like I can not leave my present employer and be able to make my mortage payment right away. I feel like if I could get a loan I could make it in the long run without a problem. I have good credit but no money. With the real estate market crashing, I dont think I have any equity on my house to get a home equity loan. Does anyone have any suggestions? I can not start business now because it would be conflict of interest with my current employer. Please help!!
richard t Says:
get a partner with money.you have the skill, he puts up the money………………someone in the industry who knows you…………..
Bob D Says:
Pay the bills for a couple of years. Have some patience. Save your money. Then try. the Real estate industry will rebound, get your bills under control then try it.
trimagna Says:
What are the main costs in doing boat repair?
Do you need a dry-dock yard? Do you need tools and equipment?
I don’t the boat business but the car repair business has shops that you can rent or lease. Some already have hoists or other facilities.
If you have customers there should be a way to handle the other problems.
The Small Business Administration has a program called SCORE. Presumably retired business pros will help you put together a business plan.
Talk to your local bank. They may have a business advisor.