In the US, is it legal/reasonable to obtain a business loan to purchase high quality young stock to train and re-sell? For example, getting a 10k business loan and using some of that money to purchase a 7k 3 year old, putting miles on it/training it up, and re-selling in 6 months to a year (maybe more)?
I ask because it seems the only young prospects in my purchase price range are grade or otherwise unimpressive. Is it reasonable (see: sane) to get a business loan to purchase and paying off the loan a bit at a time?
Please let me know if that seemed confusing. Thanks!
Posted via Mobile Device