Jump to content

Financing a machine -suggestions welcome


Recommended Posts

Hi, I am in the process of dreaming big (aren't we all) and I was curious if anyone had any suggestions on financing a machine. Is a certain downpayment necessary?

This, and room, are my big stumbling blocks. My hubby is supportive, but I need to hurtle these things first.

Anyone got some ideas?

Thanks,

Nancy

Link to comment
Share on other sites

Hi Nancy, talk to someone in sales at APQS. They can put you in touch with a bank willing to finance a machine for you, providing your credit is in good shape.

Here's my funny story. My sister-in-law has been a manager at a U.S. Bank for over 30 years. When my husband asked her about a loan for this she said, "No way!" Lots, and lots of excuses and reasons why.

Two weeks later, I had a loan for 80% of the cost of the machine and a brand new Millennium scheduled for delivery. My husband's jaw just dropped! The bank that I make my payments to; another U.S. Bank, near the APQS factory in Iowa. Just helps to work with someone familiar with what you are purchasing and what you intend to do with it.

The other 20% went on my credit cards. PLUS, don't forget to figure in the other costs of thread, batting, and all the unforseeables of starting a small business venture.

Good luck and best wishes. ~ Eva

Link to comment
Share on other sites

Hi Nancy,

Drop me a line, I have lots of ideas & options for you!:)

Originally posted by BearPaw

Hi, I am in the process of dreaming big (aren't we all) and I was curious if anyone had any suggestions on financing a machine. Is a certain downpayment necessary?

This, and room, are my big stumbling blocks. My hubby is supportive, but I need to hurtle these things first.

Anyone got some ideas?

Thanks,

Nancy

Link to comment
Share on other sites

Hi BearPaw::)

When I first brought up the LA. suject, I got "it's about time you started makeing money with your quilting," & "how much do you need" & "it's a loan you can pay me back when you start making some money"............... OH & a "I'm proud of you Mom".

Any way long story-shot....................

I cashed out my RRSP's, borrowed $3000. from my oldest son, my mom lent me $1000. & the rest went onto a business Visa at 9% Oh & I got/made my DH sell his pick-up truck since he was still making payments on it & wasn't useing it.

There's a whole lot more to the story, ;) but I've got to get quilting,

Girl :) If you want it bad enough you'll find a way, & don't let enyone tell you "NO"

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

×
×
  • Create New...