Thread: Loans?
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Old 10-23-2012, 09:38 PM
MDLawn MDLawn is offline
LawnSite Bronze Member
Join Date: Jun 2008
Location: Western NY
Posts: 1,284
I've read that thread and it shows a lot of what can go wrong. Also i think i remember he talks about how he had everything through one bank which allowed them to easily empty his accounts both business and personal when they came calling for his $$$. But that's a tiny part of it. I mean he was borrowing to cover payroll not just finance equipment, again from what I remember. And I think he even admitted it was common practices for businesses to do that. Then the economy tanked and they came calling on all his notes.

But that's on a scale larger than one single guy looking for a loan for 1 ZTR or a start up, way bigger. But again like I stated about the article I read, all situations can be successful. We get it you are a CASH ONLY guy to buy things. That's great. But why bash the guys who finance and are successful? If your business is the only one destined to survive because you don't borrow then you should want everyone to get loans so then you'll own all of the lawns in your area. But we know that's not going to happen and you'll find success and so will a company that has a loan for a mower.
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