Sigarms
Super Member
The vibe I'm getting from what the OP has written is that making money isn't the primary reason for starting the home business, but getting a loan for some renovations is. For myself, this is the biggest issue I see.
Any small business owners from home?
- Thread starter sw99
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The vibe I'm getting from what the OP has written is that making money isn't the primary reason for starting the home business, but getting a loan for some renovations is. For myself, this is the biggest issue I see.
truckdiagnostics
Platinum Member
Grow weed I hear it is legal in Colorado. 
Don't know if you'll get your loan. But you wouldn't want anyone to know your doing it. It ticks off a most of your boxes.
Don't know if you'll get your loan. But you wouldn't want anyone to know your doing it. It ticks off a most of your boxes.
Steppenwolfe
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Bankers and loan officers are hamstrung today by "underwriters". Virtually no loan is approved anymore without going to a committee that weighs the risks. Willy nilly is not the place to start, especially when the true purpose of the loan is hidden. Take out a home equity line, 2nd mortgage, etc to build the building, and grow the business correctly.
Poor economy huh? Motor homes a bust...
Here in CO every darn RV storage lot is booked full. Maybe not motor homes buy you get the drift.
"Backdoor shooting don't sound to me like a very serious business person." That is a really silly thing to say buddy.
MossRoad
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He didn't say motor homes were a bust. Where did that come from? :confused3:
MossRoad
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There used to be a Green Giant mushroom factory just north of hear a few miles in Niles, Mi. They grow mushrooms in manure/straw mix. The plant smelled like manure (only spelled with an S) if you know what I mean!
As for a church, I have a friend who's brother started his own church. He said everything is non-taxable, the house is paid for by the church, the car, the clothes... he takes his wife to the most expensive restaurant in town often... its a big scam. And there are literally hundreds of these tiny churches around here.
300UGUY
Super Member
There used to be a Green Giant mushroom factory just north of hear a few miles in Niles, Mi. They grow mushrooms in manure/straw mix. The plant smelled like manure (only spelled with an S) if you know what I mean!
As for a church, I have a friend who's brother started his own church. He said everything is non-taxable, the house is paid for by the church, the car, the clothes... he takes his wife to the most expensive restaurant in town often... its a big scam. And there are literally hundreds of these tiny churches around here.
I have a neighbor that has a business, rental property, and his own church. He doesn’t have health insurance, just goes to hospital and claims to be indigident. His biz is cash only. They have several Harley’s, and have gone to Hawaii 8 times in the last few years. He brags about not paying taxes to the Great Satan, but wants to talk about God....... lots of fakes and crazies out there.
Stimw
Elite Member
Banks ONLY loan money to businesses that don't need it!
I ran my equipment repair business in my back yard on 2 acres legally for 16 years, retired a year ago.
My bank kept sending me notices that I qualified for $150K unsecured loan.
My business was successful, I didn't need it.
I ran my equipment repair business in my back yard on 2 acres legally for 16 years, retired a year ago.
My bank kept sending me notices that I qualified for $150K unsecured loan.
My business was successful, I didn't need it.
Sigarms
Super Member
Banks in general I'm guessing will only loan money if they know there is a good chance they will get all their money back, including interest.
If someone HAS to have the money to buy something and they HAVE to take out a loan to get it, there is more than a good chance that they can't pay the loan back.
two_bit_score
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That's what sizable down payments and good collateral or, sometimes, additional collateral and higher interest rates are used by lenders to off set the possibility of losses.