Loan?
 

I am looking for a business loan-For around 10k.
Never got any kind of loan before...
I will not be managing any debt with said loan.
I also have relatively bad credit.(-6k)

I do have two Jaguar's and a older Mercedes that are all paid off.
No issues using the car(s) as collateral (secure loan).
I made a trip to my bank last month and still not heard anything back.
I heard good things about micro-loans but,all of the sites I ran across check ones credit score as well.

Anyone open to talking about this in more detail or have any ideas?

Thanks.
:)

email not sent.

:1orglaugh
Maybe that was due to the fact that I did not give you my email.
:disgust

Not being mean here but if you have two Jaguars, you have double trouble and if you also have an "older Mercedes" I might suggest to you that you sell it for what you can get as older Mercedes will eat you out of house and home with maintainence unless you do it yourself.

Same for the Jags; sell one if you are serious or sell both and buy something you can afford and you might have enough money left over to do your deal.

Depending on how much your cars are worth, couldn't you just get a title loan?

No,I welcome all legit criticism.
I don't mind selling my late '80s Mercedes...Not that I would get much for it at all.
I can't even recall that last time I drove it anyway.

My two Jag's on the other hand I do not want to sell in any way.:Oh crap
I would just think me putting them up for collateral would make me getting a loan more possible.

I am sure I could (on one of them at least) but,My friend has told me horror stories about the interest rates......

The success of the business will pay back the loan correct? So, sell however many cars it takes then replace them when the business is profitable. Always use your own resources before asking others for theirs.

My thoughts exactly. You have shit you can liquidate and make $10k easily but instead you'd rather take a loan and pay interest? It looks more like you want an investor and not a loan. That removes all the risk from you and if it doesn't pan out, the investor is the one losing the money. I know you said you'd put the Jags up for collateral, but that's questionable based on how attached you are.

If you are serious and willing to put up the Jags as collateral...I'll loan you the money. Granted the Jags are legit and all the paperwork is correct. Send me pictures of the Jag along with copies of the title. Also send the year and all associated service records. Once I receive that, I'll overnight you a check for $10k at 10 percent.

OK; Jaguars are production vehicles,really no different than a Ford, Chevy or Toyota and when your Jags were built, unless you own an XK-120 like mine, your car was probably built under Ford ownership.

They are just cars and replaceable.

What is more important to you?

Making a ton of money or a couple of production cars?

Hey, just for shits and grins, what model is your M-B?

The very best way for you to get your money is to sell one of your cars. If you can get $10k for your Mercedes then do it. This car is doing nothing but costing you money anyway so by selling the car you save money and you owe nothing to any bank or investor for your business.

If you sell a Jag, put the rest of the money in the bank. When you make back your $10k invest it all in something that pays instead of another car that costs you money. If you absolutely must have another jag, save up to buy a nice new 2012 model.

If you don't want to sell any cars, use a Jag as collateral against a bank loan. The bank will lend you money at a cool 6% or so that will be easy as hell to pay back.

If you don't want to sell any cars or use them as collateral you are crazy. If you borrow from anyone it will be a high interest loan. If you take on an investor it will cost you a ton more.

Why borrow from anyone when you can borrow from yourself or your own assets?

Welcome to money 101.

links pulled, congrats to the winners.

I also have relatively bad credit.(-6k)

Why in the fuck would anyone want to give you a 10k $ loan then. You are putting yourself further in Debit and owing more than just paying your 6 thousand off. It's your kids who are going to pay lol

links re added, stand up guy