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Loans?

Discussion in 'BlackHat Lounge' started by Essence19, Aug 31, 2011.

  1. Essence19

    Essence19 BANNED BANNED

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    Interesting thing to find out but has anyone here ever taken a loan for their Im venture?

    and what was the outcome.

    Some guys on here I know are big in the field.

    Lots of different projects.

    is it recommended when you have a big project that needs funding?
     
  2. fun4uoc

    fun4uoc Jr. VIP Jr. VIP Premium Member

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    I'd be interested in peoples opinion as well.

    I have a project that I'd like to get funded that is in the 5 figure range.
     
  3. davids355

    davids355 Jr. VIP Jr. VIP Premium Member

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    I would say bad idea. Unless you have really done solid research and have projected figures etc - otherwise you can easily get into a bad situation and it's never god to owe anyone anything.
     
  4. proimage

    proimage Registered Member

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    I'd say stick to simple business basics.. If you want someone to throw you money on an idea, it's probably not going to happen. What i'd recommend is put in some 'sweat equity' start small and get it making some money first, and once you demonstrate that it CAN make money and IS, then you are more attractive to lenders and investors.
    start small - think BIG.
     
  5. Essence19

    Essence19 BANNED BANNED

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    yes but that is a small brained way of thinking abt it.

    Like I remember when i started my business.

    I had big goals Big ideas. and i invested in it Big time.thats why it took off.

    if you play with pennies you will only make small change.

    I am just saying sometimes when you have a solid idea.

    Investing in it properly can bring reward.
     
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  6. proimage

    proimage Registered Member

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    No one said anything about "not investing" in your project, what I said was its unrealistic to think that SOMEONE ELSE is going to "loan" or "invest" money in your project or idea just because the project looks like it will be strong.

    Always believe in yourself, have confidence in your projects and they WILL flourish. But as far as asking for someone else's money, beware. If it comes that easy, its got an arm attached to it.

    Work hard at it, throw your spare money into it, if you can make $10 from $5 throw $20 instead and bring it to life.

    NOTE: my previous response never in any way conveyed NOT investing in your own project. The topic was is it recommended to take a loan to fund your project. And the answer is still simple - don't go into debt on an unproven idea UNTIL you prove to yourself it makes money on a small scale.. then GO BIG AS THE SKY.

    as for myself, i started with pennies, but they all added up to dollars no matter how i counted them. Now i work 4 hours a day in my pajamas and do anything i want the other 20.. sound good?

    Good luck guys. Wish you the best always.:D
     
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  7. Essence19

    Essence19 BANNED BANNED

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    I guess you have to look at it from the investors perspective. Is the idea worth it.
     
  8. thedon23

    thedon23 Elite Member

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    Hm, I wouldn't take a loan from a bank or anything. But I do have friends who don't know sh*t about IM, and invest in projects of mine for a percent of the profit. Close friends, I should add.