View Full Version : Where do you get the money?

02-12-2002, 10:05 PM
I am looking to buy some new equipment, but I don't have the cash. Where is a place I can go to get the money, and not use any collateral?:blob4:

CSRA Landscaping
02-12-2002, 10:27 PM
The equipment that you purchase will have to be the collateral, if you don't have any now. Depending on the size of your purchase, you could either finance it at the dealer's or get a small business loan, SBA.

Does the equipment have to be purchased now? Can it be put off until you have the money?

I hated financing mine and it would have been much simpler just to write a check.

02-12-2002, 10:34 PM
Bank. You'll have to offer up a personal guarantee, which will include personal collateral.

Five Star Lawn Care LLC
02-13-2002, 12:38 AM
Sheffield is one of the biggest financers for green industry equipment, at least in our area. The persentage is high, but if the bank wont give u a loan its allways the easiest way to go....plus i belive they offer a landscapers payment plan which is 8 month payment 4 months offs. payements are higher in the summer but u wouldnt have to worry about scraping bottom to bad in the winter, but then thats just my opinion

02-13-2002, 06:55 AM
Do you not have any collateral or just don't want to use any?

I am assuming you want to make a serious attempt at starting a business. Use the collateral if you have it. It will increase your chances of getting a loan. Banks like to loan money to people with things so that they can take their things if the people don't pay on a loan.

Imagine if you were a lender and someone that you didn't know wanted to borrow 10,000 from you on a promise to start a new business. How willing would you be to borrow the cash?

Now that same guy has a house and a truck that he will put up against a loan. Would you lend now?

02-13-2002, 10:01 AM
If you are buying new equipment, check the financing options your dealer has available through the manufacturer.

They usually have programs that are fairly reasonable.

John Allin
02-13-2002, 10:04 AM
Go down to 5th and Euclid, and look for the heavyset dude with the eye patch.... his name is Louie..... give you a great deal on some jing...

No collateral, no signing anything.

Just don't forget to pay him back on time......

02-13-2002, 08:54 PM
Why new equiptment, if you're just getting started you should try to make use of what you have or buy something decent used.Many times in this business someone who's been in it for awhile forgets where they come from.They tell you to buy all new equiptment when they started with a murray. Before you buy new have a nest egg behind you maybe half of what the equiptment you would like to purchase, if something goes wrong you've got some green to back you up.

02-13-2002, 09:03 PM
ProscapeINC hit it on the head!
I didnt have the $$$ to buy new, so I bought good used equipment, fixed it up during the winters and sold it off as I grew.
I take care of my equipment, put alot of time into keeping them clean & in new condition, so when I sell em off, I usually get about half the purchase value after 3 years of use. NOW I'm able to upgrade a rotation of equipment every 3 years.

02-13-2002, 09:36 PM
Iam not a new at this! I have a landscaping company already. I need to upgrade to bigger and faster mowers. Iam losing money with these old and slow mowers. Thank you for all you input, but I do need some new equipment. I don't want someone elses headaches. ;)

02-14-2002, 06:35 AM
many people on the board here are a bit skeptical when a question like yours comes up with the background you gave.
It was your first post. I looked in your profile and it said nothing of you being in an established business.
Your initial question, though sincere on your part, kind of looked like a set-up from the other end. There have been some past posters that have asked loaded questions just to get a rise out of the members.
Once again thanks for posting and my advice for the new equipment is use what you have as collatteral and get the equipment. If you are making a profit, you will have no problem paying it off.

02-14-2002, 09:32 AM
Squid... we're in the same neighborhood. Where in Cleveland are you located?

If you want to email me... maybe I can help out.