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    1 Reply Latest reply on Aug 28, 2011 10:21 AM by phanio

    What kind of loan should I take?

    goalmikeck3 Newbie

      I was wondering what kind of loan I need to get for a mobile gaming theatre. I have to buy the trailer ($69,500), a truck to pull it, ($52,111) money for games, some gas and a little extra breathing room cash. I would most likely have to quit my part time job to do this, which I am totally fine with, which means I will have no money. Dont have any now so thats why I say I need extra cash till the money starts to roll in. What loan will help me accomplish this? I heard that an equipment loan will accomplish this  for me.

        • Re: What kind of loan should I take?
          phanio Pioneer

          I suggest you find another business to invest in.  No lender will provide you the funds to buy all that equipment and give you money to live on.  Loans just don't work that way.  You have to show that you have the cash flow right now to service the debt - not what you think you MAY earn in the future.

          Your best bet is to get a full-time job and leverage those funds to get a loan.

          I ask you.  Would you lend your money to someone who has no experience, no income and no asset?  I don't know of any lender or investor who would do it.  But, if you find one let me know!