Only way off the plantation is to start your own business

Small business owner here. CPG space

If you go for SBA loans through a bank, you can be pre-revenue and acquire roughly 4x whatever cash asset you have into the company. Unfortunately this comes with 10-15k in SBA costs. The bank covers half and the SBA inures the other half.

To your point tho yes, you’re going to need at least 15-25k and a reasonable plan and expectation that whatever your doing is going to be profitable (business/ marketing plan/ or previous proof of concepts like winning trade shows with a CPG product for example).

But with that 15k you can take on 60k in loans, 45k after the fee’s. Honestly I’m a bit unsure if it’s really even workable at that low of an asset investment.

I may be in this thread again for the next 15 minutes, willing to answer any start up questions.

It doesn't cost 15 G's to start a business. maybe if you're trying to start a business where you do no work and simply profit off the work of others, but if you are just getting started that is not reality. You're going to have to do the work yourself until you have enough business to pay others to do it. You don't need as much as you think. First make a profit with minimum expense.

No, a few years ago I was making great money and owned my own business and I helped them out financially fairly often. It’s just good karma coming back around. Plus, I do still help them with the bills, just not having to spend the amounts living on my own would cost.

Why do you think it wouldn't be profitable if only taking out 50k loan?

How much do you pay monthly for such a business loan?

Any business requires tools of some sort - whether that be servers, a cargo van, landscaping equipment, woodworking machinery, or even a restaurant deep fryer.

I’m currently saving to buy into a tech repair franchise company that I’m also currently employed by. I should be able to open my first store in a couple of years with virtually no debt at the rate I’m saving and investing.

You could theoretically start a business with no money (bootstrapping). The downside is you'll spend a fuckload of your time before getting anywhere. Time and money are interchangable though.

If you're attractive you can find a load of girls who let you stay with them and look after you.

I've had girls look after me when I was broke before with nothing in return. They do it happily while getting dicked whenever you feel like it.

I don’t quite understand the first question, but what I meant was that I’m not sure if the FBA will even give you that little money in loans because their fees are very high (around 10-15k). SBA is more if you’re looking for 250k + TYPICALLY. You need at least 25% in cash asset, or whatever amount you’re looking for in loans. i.e. you would need 50k in the bank for a 200k SBA loan. The 4x way I explained it earlier was incorrect my fault.

The second question: Depends on what you work out with your bank, whether it’s a 3 year 5 year or 10 year loan, also dependent on the amount obviously. I believe the going rate with Wells Fargo FBA was around 6% interest and I was quoted that at a small business expo like a month ago.

So basically business loans are pointless for anything under 200k?

What sort of business do you run? I'm really aiming for something very simple, like a coffee shop for example.

What happens if you fuck up? You have to wagecuck for the rest of your life to pay back that loan?

>implying you're not going to wagecuck regardless

this is how i met my wife

i will not
i'd rather live on welfare

There are 2 basic ways off the plantation. Either you make your time so fucking valuable that you make it (doctor, engineer, crypto trader, etc.), or you leave the plantation by becoming the plantation, which involves one key thing.....make money off other people's time.

Natural foods CPG product. Most food based retail establishments fail. Be careful. To the first question yes to an extent, as far as I know.

If you open up your business with commercial credit, and not your SSN and it’s an LLC, you can just walk away from debt with no personal penalty. Problem is very few people can just open up companies with commercial credit without some sort of enterprise experience. So you and most everyone that isn’t already wealthy from small business will have to open all lines of credit via their SSN.

I am u sure specifically how a failed LLC works when all loans are made leveraging personal credit but I highly doubt you can walk away freely. I’m not educated on this.

Go work on an oil rig

>Business loan

Hope your credit score is good because you must understand ALL businesses start off with a loan and/OR an investor. You got understand that most businesses don't start with they money you currently have, you know you are making a business to make money yes? Anyway user, look into loans and/or investors; however, you must have a business plan before you really get anywhere.

Can I crash at your place?

aaaaaaall part of the plan, user ;)
how're those regulations working out for you fine entrepreneurs? remembeeer, jeff bezos could do it, operating at a loss for 14 years! there's no reason to think that he had any kind of special help, or that you'll need any in order to make it big in our system, like him! just take out a loan! this is real, definite, 100% free market capitalism—just with more responsible law and order, and our tested and demonstrated social responsibility! aw, you couldn't afford to keep your employees on with that last minimum wage hike, and now you have no staff? you say that your customers are all dropping you? you can make your money back to pay off your loan and try again—i hear the telemarketers are hiring! couldn't assemble the resume? mcdonalds is hiring too, but the competition is stiff. they're pretty big now, so we had to get them to start hiring a bit more fairly. affirmative action really makes things harder for you white goy—i mean, guys! you could say that you're a dying race! dying—like, you're being strangled out of existence, in the greatest country that your ancestors ever made, for you and people like you who want liberty rather than our collectivist bureaucracy! it's just like we taught you in our grade school—it's not like this place is yours anyway, right? you couldn't even afford to pay our property tax on the house you inherited from your dead parents! i mean, you're not fighting very hard for any of this...

nobody likes me

Opportunity cost so far ~80k, made about 20k in last year but starting to take off. If we get a big order (20-30 units, costs me ~$75 materials, 90% margins), then off to the races and scaling.

I don't know how to make money besides wagecucking