I was going to offer to back you, until you said you'd use some of your earnings to buy a boat. Bad idea...
I have the chance to bid on a very large project "to me", the problem is I do not have sufficient operating capitol for a project of this size. is there a way to establish a line of credit based on the particulars of the project? I really don't want to leverage my personal assets, I don't think that would cover it anyways. I cannot walk away from this until every option has been explored. this project is going to happen with or without me and I need to step up and make this happen. btw the way the way some of the proceeds from this job will be used for a new boat so this is directly boating related .
I was going to offer to back you, until you said you'd use some of your earnings to buy a boat. Bad idea...
I was going to offer to back you, until you said you'd use some of your earnings to buy a boat. Bad idea...
you dont like boats?
I was going to offer to back you, until you said you'd use some of your earnings to buy a boat. Bad idea...
unless it's the lucky strike .....whatever happens i wish you the best of luck dylan
unless it's the lucky strike .....whatever happens i wish you the best of luck dylan
funny you mention the luckystrike that is exactly what I had in mind
I have the chance to bid on a very large project "to me", the problem is I do not have sufficient operating capitol for a project of this size. is there a way to establish a line of credit based on the particulars of the project? I really don't want to leverage my personal assets, I don't think that would cover it anyways. I cannot walk away from this until every option has been explored. this project is going to happen with or without me and I need to step up and make this happen. btw the way the way some of the proceeds from this job will be used for a new boat so this is directly boating related .
There are companies that will finance contracts. Getting one to do it without a personal guarantee is a whole different story though. Depends on the business you are in and plenty of other variables.
A contract can be seen as an asset that can be leveraged against. Of course you would first need to obtain the contract. If it was me I would not let that stop me from bidding on the job. As chump change stated you probably would still need to be a guarantor on the loan. In my prior business I never let something like this stop me. The only time I wasn't able to get it done on my own I just subcontracted the work to a larger company that was capable of handling it for a negotiated price.
Like others hav said you can use a strong contract to pull in cash for short term needs.
All depends on how your set up... If your set up as a corp ( 90% of the time you should be) its normally not a prob. All depends on the contract.
Who's got a contract on who? Oops, wrong thread, sorry.