[Noisebridge-discuss] noisebridge credit line - cashflow cushion / lasercutter
ryanobjc at gmail.com
Tue Jan 11 00:23:52 UTC 2011
have we forgotten the lessons of 2008 and cheap/easy credit already?
noisebridge is not a business, should not be a business, and also
should not be run as a business.
I think the solution to the "we dont have enough money" problem was
handled in a good manner, and now the problem is over.
Done and done.
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.
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