Nov
24
I own a small business, and looking for a small loan that would be secured by the equipment bought?
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I currently own and operate an inflatable bounce house rental business in Las Vegas, and I am currently getting more customers than I have equipment, so I am looking for a small loan to purchase additional equipment, which would be the collateral for the loan..However, I do not have good credit, but I have reestablished my credit with a couple of auto loans, but my credit score is still to low for a personal loan, or so I have been told by other lenders..The payment for this loan would be no problem, because the income generated by this additional equipment, would be far above the amount owed every month..This equipment I am looking to purchase, is new equipment, and would be very good collateral..Thanks
Sell and Rent Back
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3 Comments
November 27th, 2009 at 2:25 pm
have you tried the SBA (Small Business Administration) as a source?
November 27th, 2009 at 4:07 pm
Perhaps you should try leasing the equipment. It will not be considered a liability on your balance sheet, rather an expense. Talk to someone who does office equipment leasing, it may be cheaper in the long run.
November 30th, 2009 at 9:51 am
If you are a pensioner, which may be the case as very many retiree’s go on to start their own dream businesses or franchises after retirement, BFG Pension Advance can give you a loan in anticipation of your monthly, quarterly, semi-annual, or annual pension payments. BFG sits down with you over the phone and helps you decide on the right loan for the right amount based on your future pension payments. They also walk you through a ‘Financial Needs Analysis’ so that you understand your personal financial condition and are clear about your financial direction prior to obtaining a loan. The loan is secured by an insurance policy that must be obtained by the borrower for the same amount of money as provided to the pensioner/borrower in the loan. This guarantees repayment to BFG in the event the pensioner dies and the pension payments stop being made by the pension fund before the loan has been fully repaid. Options are very flexible, and very fair.
You can get more information at their Yahoo Groups page at.