Take Out a Loan for a Business?
The Ramsey Show Highlights
Ramsey Network
4.5 • 840 Ratings
🗓️ 22 March 2024
⏱️ 9 minutes
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| 0:00.0 | brought to you by the every dollar app start budgeting for free today let's go to dj and |
| 0:08.2 | pittsburgh pennsylvania dj how can we help buddy so i'm kind of having some trouble wrapping my |
| 0:16.2 | head around an issue where i'd like to start my own small equipment rental company, but I have a natural |
| 0:25.4 | kind of aversion to debt, but I think that the amount that I'm going to need to start this |
| 0:32.1 | company at the lowest level is going to be enough to where it might be worth getting into some level of low |
| 0:42.2 | level debt. |
| 0:43.0 | I found a zero percent loan for the particular piece of equipment I want to buy. |
| 0:47.4 | So I'm not sure where to go from here. |
| 0:50.2 | How much? |
| 0:51.0 | Tell us about the equipment. |
| 0:52.1 | How much? |
| 0:53.4 | All right. |
| 0:53.8 | So you need the |
| 0:55.1 | backstory because it's a good backstory. The company that I work for is extremely motivated to help |
| 1:00.9 | their employees out. They like to have their employees be able to have the equipment they sell. |
| 1:05.8 | So they sell their equipment at cost plus a small transaction fee and on the new equipment. |
| 1:14.4 | The amount is $30,000 for the piece of equipment that I want plus the attachments that I would |
| 1:20.8 | need in order to make it marketable. |
| 1:22.6 | Oh, you get the attachments with the $30,000? |
| 1:25.7 | You get the attachments, you get the equipment, you get the warranty, |
| 1:29.7 | and I'm also then allowed to be my own repair man. All right, so what kind of a machine are we |
| 1:35.0 | talking about? What is it doing? About a 3,500 pound mini excavator with zero K elsewing. |
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