Friday, January 8, 2016

The only real business loan, blood sweat and tears

If I've said it once, I'll say it again, no matter what it is don't trust a Yankee, or any company that is of a Yankee state or city. You just can't trust the carpetbaggers. They do not have any sort of rural town small community knowledge. If your applying for a business loan, don't use ANY company that promises you the moon but does not fully disclose the details or terms of the loan, or if you even remotely might be disqualified. I did hit on one that was honest. First the gal, and company she works for, says you have to have a Fico score of 580 or so to qualify. Now here's the binder. If you have a Fico score over 580, you should be able to score a loan through your own home town bank. Granted if your a specialty business say like me in towing, a loan broker and that's all they are , are brokers, they really don't loan the money themselves. But having someone in some knowledge of our industry is a move in a right direction. However even they are more prone to loan money to an urban towing company than say one that is of a rural farm area nature. Many just do not understand that in our industry its seasonal. Winter months you do fairly well, summer months not so , add to that, in our area 20 calls a week are excellent, where that number is below par in an Urban environment. But I think the watchdogs in Washington DC and states attorney generals need to start watching these online preditory loan companies that promise you gold, but are as useful as a milk bucket under a bull or steer. 
The best business loan, YOU. Its called blood , sweat, and tears. Deposit enough money in a bank for real bad risky times, keep the rest under your bed, or at home, as you can't trust no Yankee's. 
Put in calls to AllWest, hoping they will at least return my phone call on again my delayed payment, and two understanding it snowed here, I can't even get out of my driveway let alone to the bank. 
On the good front of lending places, and its not for very much, but there's a company called Up Loan, that extended me credit, to $200.00 , hey its not much but the process was fairly simple, a few questions, my bank account number and all, and by 3:00PM $200.00 less the $80.00 that's overdrafted. That $120.00 is going straight to AllWest. But at least UpLoan was honest and helped. Wouldn't it be nice if every one of them were. I saw this sniggle giggle thing on Dom's Facebook page that said if you have a EBT card you shouldn't be driving an upscale car. But what if your looking for operating money to keep your small business going and not getting swallowed up by Obamanomics and the DC occupiers? There's an old adage and biblical passage that says give a man a fish, he'll eat for a day, teach him how to fish he'll eat for a lifetime, based on that concept it should also be, put the man in front of a pond full of fish, and give him the right bait to fish with. Just because your living on the cusp of poverty, and you need a bit of a financial boost to keep you going, should there not be a fund designed to give you a boost or leg up so you can crawl out of debt yourself?