Small Business Development Loans (General)

I was talking to one of my college professors the other day about starting businesses, and he said something that surprised me. He said that a person can get a small business development loan for up to $900,000 at an interest rate of 3-4%. I decided I better look into it.

I found out that he is right. Interest rates are not that low at the moment, but may have been that low at one point.

• The cheapest rates in Colorado are about 4.37%, for a 10 year loan.
• The payment for a $500,000 loan would be about $5,200 per month, for 10 years.
• A person can borrow up to $1 million, with a $25,000 minimum loan.
• There are 20 year loan options with a higher interest rate (5.25% currently), but lower monthly payments ($3,400 per month).

Do you think you could do it?

If you had 500 grand for a building, equipment, and inventory, could you generate $5,200 per month in profit with your business idea?

New Hobby Shopping Service

This would be a service that finds the best deals on products. The customer makes a list, and an expert finds the best deals.

For example, a person wants to start backpacking, and needs to start buying the right gear. They tell a buyer (their personal sales representative), who makes a custom price list for the customer. If the buyer is not an expert in this area, she consults another buyer.

The costomer receives a list of the lowest priced, highest quality items. It also give a quick rundown of the logic behind each item, indicates how long the deals are valid, and advises when items will be priced better at a later time. The buyer could also look for craigslist items in the customer's area, and used items on ebay.

The cost could be a flat rate for larger items, or 5-10% of the total order. Since the buyer saved the customer over 50%, this is a fair offer.

Obviusly this service is good for all kinds of shopping, but hobbies work well because people spend lots of money when they start a new hobby and have no idea where to begin.