applying for a loan question

[Rob H.]

Hi, new to this site and glad I found it! reading alot on here has help me out, my problem is..... i'm a new garage owner, 3yrs now, started from zero! no customers, no employees and very little equipment, now i've got 4 full time employees plus myself, lots of business, equipment etc., shop makes good money, yet not alot for me

but i'm currently almost debit free, only owe snap-on about 5k other than that nothing! i pay cash for everything and dont like debit, but recently i've been thinking about getting a small loan (10k) to do somethings around the shop to improve services and finish some cars I have to put out for sale,

but honestly it scares me to death thinking about a loan, i've had several sleepless nites lately about it! my fear is if we get slow (thank god we are always busy) how will I make my loan payment, payroll etc., I keep $$ in reserve but adding a loan makes me nervous, the loan can help me buy new equipment to better service cars and hopefully get things done quicker so I can work more to make more $$ and I know debit can be ok, I dont think i'll really be able to grow bigger like I want paying for everything out of my pocket, so i'm looking for everyones opinion on taking on a loan and can I really grow without a loan now or in the future. thanks in advance for your input, Rob

[CARMandP]

I was recently "forced" to move my business and had to come up with cash really fast. I was actually amazed that I got a SBA loan from the government for a very small amount every month. It was a 10k loan and payment is just over $100 a month. I would look into that.

[Joe Marconi]

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