Started Working on a Little Plan
Of course the big problem with my plan is that it requires that I find a fairly significant source of cash to seed the operation and so far I have not really located anything which is close to ideal. The best option that seems to be easy to obtain is this online provider of cash advance loans. The problem is that the terms on the loan are pretty high in reality. In particular it is not any where near the kind of terms that I could get if a bank was willing to come through with this loan. Obviously the bank wants to secure the loan and so they would want to be able to take some stuff away from me if I did not pay them back what I borrowed from them. I have a car, but the bank would laugh at me if I offered it as collateral. In fact it is only worth any money to me because I am able to keep it running my own self.
At any rate I am still looking in to my options and thinking that the best course would be to wait and try to get in to a position where the bank is going to be willing to talk to me. That would probably mean that I would have to save up several thousand dollars of my own and get rid of my bad debts. At any rate the bank would give me the sort of rate and terms that would make sense, but if I get some sort of really disadvantageous terms on a loan, then it would make this adventure a bit untenable. You have to do the math and figure out what you risk and what you gain. In this case it is not that much.
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