View in: Desktop
Copyright @2024 TigerDroppings.com. All rights reserved.
- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Posted by
Message
Opened a business-should I pay off my business loan early?
Posted by eazyeric23 on 10/17/12 at 6:53 am00
Opened a business that will generate $2500 a month for a four year term. I borrowed 34k at 5.95% on a 36 month term. Should I a pay off the loan ASAP or spread it out over three years? tax purposes, interest, cash reserve.. Etc
re: Opened a business-should I pay off my business loan early?Posted by Cold Pizza on 10/17/12 at 8:16 am to eazyeric23
I am inclined to say no. Cash flow can swing hard and fast (like my pecker) and you may need that money.
re: Opened a business-should I pay off my business loan early?Posted by Gujam8 on 10/17/12 at 8:21 am to eazyeric23
No, don't pay it asap. Take the tax deductions, build cash flow, and establish your business first.
re: Opened a business-should I pay off my business loan early?Posted by thedogman on 10/17/12 at 8:34 am to eazyeric23
What kind of business did you open?
re: Opened a business-should I pay off my business loan early?Posted by TheHiddenFlask on 10/17/12 at 8:58 am to eazyeric23
quote:
Opened a business that will generate $2500 a month for a four year term.
If you can be that exact, it sounds like you need some more leverage.
What kind of business is it?
re: Opened a business-should I pay off my business loan early?Posted by eazyeric23 on 10/17/12 at 9:28 am to TheHiddenFlask
I am leasing locomotive work trucks.
re: Opened a business-should I pay off my business loan early?Posted by foshizzle on 10/17/12 at 9:39 am to eazyeric23
Too many variables to answer, but I would think about trying to convert it into a line of credit somehow. That way you can pay off now and draw on it later if your revenue projections wind up being optimistic.
Back to top
Follow TigerDroppings for LSU Football News