Equipment Financing - Holy Crap !!!

["Bob La Londe" <none@xxxxxxxxxx>]

As some of you might be aware I dabble in other fields, but this item kind
of overlaps.  I've been doing some CNC machining making parts on the side
for the last few years.  All of my saleable work is done with desktop hobby
level machines.  My big holdup has really been that I just can't make many
parts on the desktop machines before I have to tear them down and rebuild
them.  I do have some repeat customers though, and I do make a few dollars
on it.

I recently decided to try and step up a little bit and see if I could
finance a couple slightly larger more robust machines.  Most outfits
wouldn't even talk to me since I have not been in the CNC machine business
full time for atleast 2 years.  (I don't intend to stop being a contractor
anytime soon.)  I did have a few though that said they would be glad to
finance new equipment purchases...  at interest rates from 45% to 60%.  Wow!
Well, I am glad to see that every industry has its opportunistic sharks.
Not just the alarm industry.

I decided it would be better to just sell some equipment and pay cash.  Even
at a loss on the equipment its cheaper than paying 45% or more on financing.