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bizz loan?

Discussion in 'Starting a Lawn Care Business' started by Frontier-Lawn, Oct 7, 2004.

  1. Frontier-Lawn

    Frontier-Lawn LawnSite Silver Member
    Posts: 2,949

    i have a becon score of 520 (realy bad credit :dizzy: ) and i need a loan to startup my lawn bizz. any sugestions on what to do. :help:
  2. chambers 38

    chambers 38 LawnSite Member
    Posts: 104

    Get a higher score, I have a little higher score and I'm not even going to try I know thew won't a higher score. JD wants at lease 650 of a score for 36 w/b and some other things but nothing offer 4.000.00$$

    p,s are you already doing business down there , who is it going right now??
    just wondering because I'm in Sarasota
  3. UnderCutter

    UnderCutter LawnSite Member
    Posts: 5

    Go to your bank ask them to pull your credit. Sometimes there are small bills that did not get paid by accident. I had 2 hospital bills that I forgot to pay 1 was for like $5.00 and the other was like $15.00 but I did not know I had them. After I found out and paid them my credit score went up almost 100 points. Its the small stuff that hurts your score.
  4. Frontier-Lawn

    Frontier-Lawn LawnSite Silver Member
    Posts: 2,949

    no i have not started it up yet. trying to get he eqiup rite now. all i have is the envelopes and bizz cards from nebs.
  5. JustMowIt

    JustMowIt LawnSite Senior Member
    Posts: 367

    Your credit may be a blessing in disguise, you are really better off to try to get started slowly with used or shitty equipment, then develop a few customers & work your way into better stuff as you start mowing more. It's hard enough starting out, then add to it being in the hole!

    I was broke & had no credit initially & slowly worked into decent equipment. It helped that I slowly began a relationship with the local dealer, so he gave a little slack here & there 30-60 days on an open account.

  6. tonygreek

    tonygreek LawnSite Gold Member
    Posts: 3,439

    I wholeheartedly agree with Justmowit. The majority of any new business started is done so by boot-strapping in some way. I've always thought it's the best so that you develop a keen sense of budgeting, even if you're bringing 20k to the table.

    If that means a couple of hundred bucks for a used 21" and another bit for a trimmer and blower then you can mow the majority of yards. It'll take you longer, but it'll produce the cash you need. Go door to door with flyers. You can go to OfficeMax or Office Depot and get one-sided copies for pretty cheap. 6,500 on white was 2.7 cents, 3.7 cents on a colored paper. Low cost and you can target your neighborhoods with greater accuracy than inserts or ads. Check out any of Gopher's templates and you'll look more professional than if you fumble your way through designing your own.

    Good luck!

    Dayton, Ohio
  7. joburnet

    joburnet LawnSite Member
    Posts: 11

    My first buiness was a used car dealership while I was still in college.

    My business partner and I took about $50,000 off credit cards that companies had sent us over the years to start up. We lost our asses. He is having to decalre bankruptcy and I am in deep debt.

    Now we have another business that we started with only a few grand. It is much more successeful than the dealership and quickly expanding and we are still in our first year.

    The thing about credit is that the money is expensive and you have to make regular payments and all that. You have to pay it back with interest which is difficult to do when first starting out a business cause you don't know when you will or will not be making money. Also, its easy to lose track of 50k that you just got a loan for cause it seems so much that a few hundred here or there falls through the cracks.

    We have had much better success earning money before we spend it. We have learned much more, disciplined ourselves better and made more money.

  8. Frontier-Lawn

    Frontier-Lawn LawnSite Silver Member
    Posts: 2,949

    well heres the stuff i still need: tralier hitch for my frontier, rider, blower, and the most important the trailer. oh and florida fictious name($50) and sarasota county biss. licence ($15)
  9. tonygreek

    tonygreek LawnSite Gold Member
    Posts: 3,439

    icc, is the rider imperative at this point?
    trailers can be had very inexpensively on the second-hand market. same with a blower. hitches are not difficult to install, so you can save money there if you are up to it.

    and don't forget <cough> insurance.

  10. Frontier-Lawn

    Frontier-Lawn LawnSite Silver Member
    Posts: 2,949

    well i dont want to destroy my mother inlaw's mower the mower

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