How Much For A Loan

Discussion in 'Starting a Lawn Care Business' started by next12mj, Sep 10, 2007.

  1. next12mj

    next12mj LawnSite Member
    Posts: 45

    How Big of a loan should i get to start my business

    I have a trailor and truck

    i need

    a used ztr mower

    Anything Else ???

    Thanks for all replys
  2. KS_Grasscutter

    KS_Grasscutter LawnSite Gold Member
    Posts: 3,332

    It is NOT a good idea to go way far in debt just starting out. Build up some accouts first, pay cash for cheaper stuff to start with. Then as something dies replace it with something better. Example $400 Home Depot mower for a season, replace it the next season with a $1200 Toro Proline. Echo Home Depot trimmer, replace it next year with a SRM261, etc.
  3. N.H.BOY

    N.H.BOY LawnSite Bronze Member
    Posts: 1,604

    Check out mowers with 0% apr, they are out there, I had mind with cub cadet...good luck
  4. tomgolfs44

    tomgolfs44 LawnSite Member
    Posts: 46

    See, I wouldn't go as low as home depot...........but low end commercial/used commercial trimmer & blower as opposed to home cheapo. One 32 or 36 WB and replace with new/higher end commercial as your workload increases or equipment needs replacing. You should learn a lot about repair/maintenance along the way. I agree with most though that deep debt is not the way to go. It is a long process to get quality clients (and a number of them) to pat your bills with.
  5. stevenf

    stevenf LawnSite Bronze Member
    Posts: 1,612

    I am looking for credit cards with 12+ months no interest and charging one thing per card such as a trimmer or edger. Then pay the $30.00-$40.00 a month. Thats how Im doing it atleast.
  6. Sweet Tater

    Sweet Tater LawnSite Silver Member
    Posts: 2,123

    Dude, interest will eat you alive.
  7. ALarsh

    ALarsh LawnSite Silver Member
    from Midwest
    Posts: 2,412

    Take out a $50,000 loan and get a rig full of equipment, then pray that you can cut a lawn or two for $25!!!!! It works!!!
  8. stevenf

    stevenf LawnSite Bronze Member
    Posts: 1,612

    If this was refferring to my post.?.?.? I pay it off in the no interest period then apply for another card from a different bank to buy something else.
  9. topsites

    topsites LawnSite Fanatic
    Posts: 21,653

    90% of all new businesses FAIL within the first 5 years.
    Over half within the first TWO.

    Please don't think that somehow yours will be different, the lawn industry is no different from any other, it's all the same thing.

    That sounds like a recipe towards one bad FICO score.
    Did you know I charge extra to people who pose a credit risk?
    Yes, they also have to pay in advance, or I can not help them.
    By the way, car insurance costs more with a lower FICO.

    So it's way easier to do it the right way in the first place, even if that is also the hard way, there simply is no easy way out.

    Save your money, then pay cash.
  10. Proline Man

    Proline Man LawnSite Member
    Posts: 6

    Trust me and the others on here even if you do get a CC like they said the interest will kick your bet but then again those 0 percent CC are good BUT if you don't pay it off with in oh say 12 months...they wull go up to 24 percent APR on top of that most will make you repay the interest you didn't pay during that 12 month period.
    Best bet is to get a part time job from a local restruant ir other low end job to make some money quick ir maybe go and work for a local LC around where you live.
    but if you do decide to get a loan or CC don't go to home crapo. for the simple reason they suck when it comes to buying lawn mowers for commerical use. they are not going to be able to keep up with all the demand of mowing 25 or 40 hours a week. if need be try to buy used from a DEALER or if you get a loan. EBAY or local classified adds. best bet go this winter to your local dealer and they will always have something for cheap. hope this helps. but if you must buy rez. stuff. only buy trimmer and blowers. no mowers. no point in spending 1500 for a rider then next year spending 3 tines that for a commercial.....hope this helps!!!

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