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advise on taking a loan to pay for gear Digital Converters
Old 4th January 2011
Gear Guru

Originally Posted by digi882 View Post
Life is about risk taking win some lose some.
We are talking about a very specific risk - the prospects for repayment of a $100,000 loan for audio gear. In 2011, not 1975!

thank GOD i have another job I can use the money to sponsor, pay for, buy gear etc.
This is my point about your 'multiple skills': what real 'risk' do you take in the audio business?

We are seeing the worst climate for the studio business in the history of studios. If your studio needs an outside source of money to keep afloat, what makes you think the OP can repay his loan from "increased business"?

The OP is seeing if anyone else took a big loan out and was successful at it I am pretty sure there have been a few successes...
You are pretty sure? But you yourself are not one of them, are you? You finance your studio with your other job, not from a loan to be paid back out of what the studio itself generates.

I think it's telling, that most of the people saying "don't do it" are those who have taken out such a loan themselves and had it fail, or are close to someone else who has been there and seen that negative experience close up. The rest are people who have built up their businesses successfully without going into massive debt. All seem to have no illusions about where the studio business is at today.

The one person saying "go for your dreams" has a backup career and a separate income plus no experience making such a loan work. Or apparently of even needing to make it work, since he is underwriting his studio with his day job.
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