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RunSlideStop 01-01-2013 04:03 PM

Business Loans?
Curious and hypothetical:

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!

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RunSlideStop 01-01-2013 04:04 PM

Also curious if anyone has done this or something similar, what kind of interest rate might I expect, and WHERE would you suggest a loan be obtained from?
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