Advanced Search

The Green Industry's Resource Center

Old 10-26-2002, 11:30 PM
CJIII CJIII is offline
LawnSite Member
Join Date: Apr 2002
Location: Montgomery Alabama
Posts: 57
business loan?

hey guys I got a question. is wise to get a business loan?
Reply With Quote
Old 10-27-2002, 12:00 AM
Heller Landscaping's Avatar
Heller Landscaping Heller Landscaping is offline
LawnSite Member
Join Date: Jul 2002
Location: Pittsburgh, Pa
Posts: 205
I have never gotten a loan or have never needed one. Start out small and grow. I won't depend upon what the weather is like or what the customers are like one day they are here the next they are gone.
Reply With Quote
Old 10-27-2002, 06:17 AM
Guido Guido is offline
LawnSite Silver Member
Join Date: Feb 2000
Location: North Las Vegas, Nevada
Posts: 2,085
It depends what for.....

and how much.

Is it to expand your current business? Is it under $5K ? Is it ti start a new business?

If it was for a start-up, I would try not to. It can be done succesfully, don't get me wrong, I would just choose to have money set aside to start.

The reason I say that is so there's no pressure to take on cheap work just to "Pay the bills". Does that make sense?
Reply With Quote
Old 10-27-2002, 11:35 AM
John Allin John Allin is offline
LawnSite Bronze Member
Join Date: Sep 2000
Location: Erie, PA
Posts: 1,489
Our first 15 years, we operated without any type of business financing (other than vehicle loans).

We then borrowed some money for a fixed term, and when that was paid back - we didn't finance anything for another 5 or 6 years.

Now we have a CFO to run our finances and we DO have business financing - but the decimal point for our business is in a much different location too....

At some point, financing is a good thing - although it must be viewed as "managed debt". Larger companies (like, multi millions in revenues) require some debt to be solvent. We actually got to a point where our debt to equity ratio was SO low, that the bank and our outside accountant had some difficulty with it as it began to adversly affect cash flow.

If you're small - do as much as you can without debt - IMO.
Reply With Quote
Old 10-28-2002, 12:44 AM
CJIII CJIII is offline
LawnSite Member
Join Date: Apr 2002
Location: Montgomery Alabama
Posts: 57
I just wondering if I start a lawn service would it be a wise idea.
Reply With Quote
Old 10-28-2002, 08:21 PM
JasperStorm JasperStorm is offline
LawnSite Member
Join Date: May 2001
Location: WA
Posts: 71
Save up the $3000 it takes to start, and plow your profits back in to the company.

If you can't save up any money, go back to bed.
Reply With Quote

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Layout Style:

Powered by vBulletin® Version 3.8.6
Copyright ©2000 - 2016, Jelsoft Enterprises Ltd.
Copyright ©1998 - 2012, LawnSite.comô - Grand View Media
All times are GMT -4. The time now is 04:55 PM.

Page generated in 0.07547 seconds with 10 queries