Urgent Please Give Your Input

[Chris Aurelio]

alright tomorrow im going to go get a loan for a truck that i need to run my buinsness.Its a 95 gmc.My question is it is worth 7,000 im buying it for 5,000.my payments are only $200.00.Should i borrow another grand to have some money to sink into my buisness to help it get started?If you think i should get another grand what should i spend it on?I already got new walkbehind,blow,trimmer trailor and hand tools?

Thanks,
Chris :blob2:

[stslawncare]

welcome to lawnsite! i am not familier with loans and all that stuff, however as far as getting started as long as u have a truck, trailer, mower, wacker, blower u are pretty much set. do you have a need for a push mower? do you already have one? do you need an additional mower for maybe a second crew in the near future? how about a back up? if i had an extra grand there is tons i could do with it lol. basically u gotta look at what u need right now, and what u might need in the near future.

[landman]

Take what you can and run. If you can borrow money at a good rate take what they'll give you, you don't have to spend it, just keep it for a rainy day. The opportunity may not be there in the future when you need it. Plus if you come across a great deal in the future on equiptment or something, you can buy it with the borrowed money and not touch you operating account.

[LAWNS AND MOWER]

I would get the extra money. $2,000 if you can. You never know when you'll have some unexpected expenses, especially if you're just starting out this year. If you don't need the extra dough, than just pay extra on your payments to reduce the principal.

LAWNS AND MOWER

[C4chris70]

It sounds like you already have the essentials to get started. Since you are just getting into the business you may want to do some advertising to get your name out there. I'm not sure I would borrow extra money for that at this point though. You can advertise by flier fairly cheaply. You just need to look at the interest rate you are being charged for the loan and decide if the extra $1000 is necessary right now. I would prefer to keep my overhead low in the beginning. Good luck!

[Green Care]

Welcome to the site

Sure you might need some other things.

If theres a good rate go !!!!!!

[65hoss]

I think only you can decide this. Only you know how you handle money. If you will spend this uselessly then don't get it. You would be surprised at how fast you can blow a grand if you have it in cash sitting in front of you.

I wouldn't. I would only be borrowing the necessary amount and that's it. No more than I really need.

[the point man]

Got liability insurance for your business?

[Chris Aurelio]

yea couldnt beleive hoe cheep for 1 million dollors285 a year

[Tony Harrell]

Who did you get your insurance from for that price? Also, what kind of new WB did you get and how much did you pay for it? Thanks

[f350]

open a commercial line of credit. thats what i did.

[Chris Aurelio]

I got a JD 36" walkbehind.I got my insurance from turner insurance a big local company around here!

[heygrassman]

Remember that loan value on a vehicle and retail are two totally different numbers. Also, borrowing 2K at 8-12% for 5 years is a hefty payback at the end of 5 yrs. If you need the money look for a 0% Credit Card or better yet look to the SBA for some funding at a better rate.

just my $.02

Could you post or email me the phone number for the Gen Liab broker you got he $285 rate from?? Did that include coverage on your WB, trailer, blowers, etc...If so...I can not dail fast enuf.

jf