Crunk Times, My friend.....Crunk Times

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I am going to ask about people who have started their own businesses...how much did they borrow, what was their plan to pay it back, etc.
All my knowledge is textbook. I want some non-finance perspectives.
Tires on the go took 80,000 to start, 65,000 was borrowed.

Plan to pay it back, what do you mean, like how much of each month's profit, or giving the people that you borrowed from some kind of interest? I can tell you my brother did both of those. I was brought in later on because I invested more later.

Sessions took, thats gonna take me a minute to think about.

But none was borrowed, until now, because the business is expanding. Thats what im waiting on.

But hold on let me sit and think about this.

 
Solid Choice
you like the Mars Volta? Man that's awesome, hahahaha. I loved the first cd the best, it is by far the best work they have ever done. The second album was decent but it doesn't get good(imho) until track 5 till end. The third album, I love the opening song and track 2 and then two more but that's it.

 
Did you worry about failing? If the business failed, what where you going to do?
Failure was not an option. Seriously.

But no, If tires on the go had failed, my brother probly would have went back to being a mechanic for a shop (he was working at merchants before he started the business, its where he got the idea). As far as all the equipment, he would have sold it for a loss, and the truck along with it, would be my educated guess.

If sessionsMGE had failed, we were just going to sell all the equipment. I mean it wouldnt be hard to sell all teh xboxs wiis and ps3s and tv screens. Shit, I would have kept 2 of them. THere really any other business expenses for sessions. THere is $100 a month storage fee and $140 insurance. LLC

 
I am still on the fence about borrowing this money.
If it fails, I am still young and have plenty of time to pay it off...
Just do it. THink about it its only 10k. if you make what 3500 a month at your job, 1000 a month paying that off it will be paid for in 10 months. Thats just the simple math, im pretty sure theres more to it than that.

 
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bdawson72

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