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Need $60000 loan

Discussion in 'Starting a Lawn Care Business' started by ebayollis, May 12, 2008.

  1. ebayollis

    ebayollis LawnSite Member
    Posts: 16

    This guy i work with on my 9 to 5 job offered me some heavy equipment and a grave digging business for $60k He has a 2003 f450, 2004 cat 304cr mini excavator and a 16' dove-tail trailer plus the business where he averages about $3000 a mnoth just digging graves for one of the local funeral homes. Any way i need to find a place where i could get a loan for this amount. I have fair credit, rent, owe for nothing and own an acre of land if this help anyone...please help!
  2. grass disaster

    grass disaster LawnSite Silver Member
    Posts: 2,583

    you might want to start with a bank :waving:
  3. bohiaa

    bohiaa LawnSite Fanatic
    Posts: 5,220

    it's like any other thing, go to the bank let them figure out if this Business venture is worth that much and if there willing to take a risk......

    if not ask family, or take a morgage on your home...

    trust me No one here will loan it to ya......
  4. Darren Lumpkins

    Darren Lumpkins LawnSite Member
    Posts: 8

    Bank or family is the best place to start! And if you are unable to get the amount you need. Then try and get a lower amount and work with that! Just sit down and think about what you have in-front of you. But first ask yourself what is it you want from this?
  5. AI Inc

    AI Inc LawnSite Fanatic
    Posts: 25,390

    3k a month is a job , not a business.
  6. Mike2212

    Mike2212 LawnSite Member
    Posts: 10

    Go to a small business development center www.asbdc-us.org, have them help you with a business plan, then go to the bank.
  7. NOOB

    NOOB LawnSite Member
    Posts: 188

    look for a private investor or if you dont know any place an ad in the local free paper
    I have my investor but he is in fla he wont go out of my county you can back it up with real estate
  8. Hardee's Bush Hogging

    Hardee's Bush Hogging LawnSite Member
    Posts: 14

    I don't want to rain on anyone's parade, but have you taken into consideration fuel costs, insurance, maintenance costs, loan payments, etc... When you factor in all that, that $3000/month may not be quite as appealing.

    If you pick up a couple more funeral homes or other work, then it might be worth the risk and investment.
  9. fool32696

    fool32696 LawnSite Senior Member
    Posts: 991

    Unless there's a lot of growth potential you'll never make any money at that. After expenses and you taking a few bucks to live on it will take you over 3 yrs just to pay off the loan.
  10. JohnnyRoyale

    JohnnyRoyale LawnSite Senior Member
    Posts: 616

    Keep your day job.

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