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keepthetips t1_ixvjz00 wrote

Hello and welcome to r/LifeProTips!

Please help us decide if this post is a good fit for the subreddit by up or downvoting this comment.

If you think that this is great advice to improve your life, please upvote. If you think this doesn't help you in any way, please downvote. If you don't care, leave it for the others to decide.

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I_AM_A_CHAD_ t1_ixvk9wg wrote

Plane and simple. $25k may not be enough depending on the applicational aspects of the scenarios. do what works.

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Dull_Lavishness7701 t1_ixvtila wrote

Yup, just strut on into the bank and ask for 25k to fund your idea, no matter what it is! They're just giving money away down there!! What're you waiting for you dolt? Go get that bread

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Vortamock t1_ixvwji5 wrote

This isn't a good lpt. $25k isn't enough for some and isn't required for others. I started a business without getting a loan at all, just using a credit card to purchase materials until we got paid on the first few jobs. Never had to pay interest. The real lpt is just the encouragement that it is possible. Assess your needs and use an appropriate method based on your situation.

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Petite_Bait t1_ixvzij1 wrote

If it's something you can do from home and you have the credit score/credit history to get a $25,000 unsecured personal loan, then that's great. If you need a brick and mortar location or a lot of equipment, you can forget about that. Even if you are leasing space, opening a restaurant is going to carry the same price tag as buying a home.

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Kanukler t1_ixx1xb1 wrote

Just get a small loan of a million dollars from your dad.

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