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Forums » Seeking Financing, Money, or Loans » Low Dollar Commercial Loans

Low Dollar Commercial Loans Subscribe to Low Dollar Commercial Loans

8 posts by 5 users

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Patrick Howell

· 42020, Kentucky


Forum_avatar_avatar-howellrei

Jul 28 '09, 08:51 AM

Hello All,

Just curious if anyone had any suggestions on where I could secure a low dollar commercial loan for a DVD rental kiosk venture. I'm looking to purchase a DVD rental kiosk (similar to the RedBox Kiosks you see at Wal-Mart). I have an opportunity to purchase a used one for 8,500. I have the ability to purchase cash, but would have to withdraw early from a Roth IRA with penalties etc. I've worked with commercial lenders before on real estate deals, but never something like this...... Any suggestions would be greatly appreciated. Cheers,

Patrick

Edited: 06/26/2010 at 09:09AM


Jon Holdman

Real Estate Investor · Wheat Ridge, Colorado


Forum_avatar_avatar-wheatie

Moderator Pro

Jul 28 '09, 09:50 AM

Credit card.

Edited: 06/26/2010 at 09:09AM

Small_flying-phoenixJon Holdman, Flying Phoenix LLC


Patrick Howell

· 42020, Kentucky


Forum_avatar_avatar-howellrei

Jul 28 '09, 10:01 AM

LOL, thanks Jon. I will be buying from an individual who more thank likely can't process a credit card....

Edited: 06/26/2010 at 09:09AM


Jon Holdman

Real Estate Investor · Wheat Ridge, Colorado


Forum_avatar_avatar-wheatie

Moderator Pro

Jul 28 '09, 10:09 AM

Cash advance off a credit card, then. Seriously.

You're not going to get a $8500 (plus working capital) commercial loan. You might get a personal loan at a credit union. If you can't get that, then a credit card cash advance is about the only way.

Or, get the seller to take payments.

Edited: 06/26/2010 at 09:09AM

Small_flying-phoenixJon Holdman, Flying Phoenix LLC


Patrick Howell

· 42020, Kentucky


Forum_avatar_avatar-howellrei

Jul 28 '09, 10:13 AM

Hmmmm.. Well, ok. That is definately something to consider.

Edited: 06/26/2010 at 09:09AM


James Hiddle

Real Estate Investor · Altus, Oklahoma


Forum_avatar_avatar-mr_investor

Jul 28 '09, 11:04 AM

You can have the owner put up a note and use portions of your profits to pay off the payments until you paid the whole thing.

Edited: 06/26/2010 at 09:09AM


Chris OToole

Real Estate Investor · Bayou Vista, Texas


Forum_avatar_avatar-c_a_otoole

Jul 30 '09, 09:58 AM

Does anyone know where to find these machines used? I live in a small community where I think one would get a lot of traffic.

Chris

Edited: 06/26/2010 at 09:10AM


Bill Hamilton

· Meridian, Idaho


Forum_avatar_avatar-lighthouse1

Aug 22 '09, 01:24 AM

Talk to whoever has your 401k and see if they can do a self directed investment. If not, look around for a plan that allows for it. This will let you make that type of investment without invoking the penalties.

Edited: 06/26/2010 at 09:27AM




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