[Noisebridge-discuss] noisebridge credit line - cashflow cushion / lasercutter

[Patrick Keys]

I posted to the list because I'm not the one bitching about not having 
money to buy a laser cutter or pay the rent.  My hope was to offer a 
constructive solution to the money problem to the dozen or so people 
clogging up this discussion list with ideas on financing a laser cutter. 
  Lasercutter thread is already over 30 messages in just one day.

Josh Myer's lease-with-buyout-option is a great idea, but a broad line 
of credit would also solve the cash problems that Noisebridge seems to 
have on a regular basis.

I can't go the bank because I'm not authorized to act on behalf of 
Noisebridge.  Whoever has authority to open bank accounts for 
Noisebridge presumably has authority open the credit line for 
Noisebridge.  That's the only person(s) that can do that.

Telling new people to Noisebridge to sit on their ass and observe for 
several months before commenting is ridiculous.  And instead of 
attacking me all the time, it might be best to just run the business of 
Noisebridge (yes... noisebridge is a business - a non-profit business) 
in a business-like manner.

If you just made a list of all the expensive assets you already have and 
sent somebody to the bank to get a credit line, you could have that 
lasercutter in no time.


Patrick


On 1/10/2011 4:16 PM, Dr. Jesus wrote:
> So talk to the treasurer, head over to the bank, and set it up?  Is
> there some reason why you had to send this to the list?
>
> On Mon, Jan 10, 2011 at 3:59 PM, Patrick Keys<citizenkeys at gmail.com>  wrote:
>> Noisebridge needs a corporate line of credit at the bank.
>>
>> Here's how any business with any sense would do this:
>> 1) Make an itemized list of all the expensive stuff you already have
>> here.  Those are called fixed assets.
>> 2) Take your average bank balance.  That's a liquid asset.
>> 3) Use the assets as collateral for the line of credit.
>> 4) Use the line of credit to increase assets and manage cashflow.
>>
>> Go to the bank and get a credit line.  The best time to get one is when
>> you don't need it.  Use the credit line for emergencies, like the risk
>> of eviction.  Also use it to attract more people here by buying cool
>> expensive toys, like the laser cutter.
>>
>> Instead of paying for the laser cutter all at once, you buy it on a
>> lease-with-buyout-option like Josh mentioned.  That lets you spend less
>> cash upfront and keep that cash to manage your cashflow.  That extra
>> cash pays the rent, keeps the lights on, and keeps you from having your
>> back against the wall whenever the bills come in.
>>
>> Seriously... go get a damn credit line already.
>>
>>
>>
>> Patrick
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>>