Does anyone have any insight on getting bank loans? Who gives the best loans? What one should look for in a loan? In particular I'm interested in a loan for a cob house and maybe a loan for farming tools and seeds/trees. I've seen ads for a Permaculture bank...has anyone done business with them?
Keep in mind that this is MHO only, but here goes:
Loans are evil. I mean that in every connotation of the word.
From a more pragmatic side of things, when someone gives you money, and you promise to pay more back, you are speculating on your income generation over time. The problem is that life changes all the time. Someone gets sick, someone has to move, someone gets hit by a baseball in the head and can't work for a while, and the list goes on and on.
FWIW, I think you, me, and everyone is better off saving for the capital investments you need to make that will then produce revenue (whether in actual cash, food, energy, or widgets).
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Tamo's right: loans are evil. On the other hand, they are a very common practice.
You should also be aware that home or building loans are usually tied to certificate of occupancy permits. Many municipalities are still new to or don't give permits to homes constructed with alternative building methods.
Location: Western WA,usda zone 6/7,80inches of rain,250feet elevation
posted 10 years ago
They might be evil but I wouldnt be where Im at without them.Of the loans Ive used,the bank was the biggest hassle esp.these days.I found the loan officers very friendly and usually could get them really excited about my project but the higher ups would always reject it because of the uniqeness.An owner contract got me into ownership in the first place.That worked out fine.But a personal loan from wealthy individuals has proven to be the easiest for me.That is more a matter of luck and privalege though.Also,since there is a permaculture bank,and we are not supposed to say what permaculture isint or diss anyone on this site,Id say that permaculture might include loans.good luck
There is nothing permanent in a culture dependent on such temporaries as civilization.
First of all, it's a credit union not a bank. So it is then a community to which you belong. Secondly, the Permaculture Credit Union offers discounts if you apply for loans that have earth-friendly and socially responsible goals. It is difficult to manage fiscal instruments without having a bank account. And why not use a "bank" that is community oriented - in other words - a credit union. Even though this credit union is physically based in Santa Fe, thanks to the internet it can extend our community. And if you are still put off by this one not being in your town, I would still recommend that you search out a credit union near by. Or start one.
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