Secured Loan Provides The Investment To Turn My Idea Into Reality

I get ready to get washed and grab the water and suddenly my whole body freezes in shock and I scream out, “that's cold”! I think about putting some water on the fire to warm it up but that will take too long and get too hot. Then a light comes on in my brain and I have this idea about using some clear hose and making a hot water heater to take camping. No more cold baths in the woods for me. I draw up plans when I get home and build a prototype.

Next, I head off to the camping area again to test it out and see how well it functions. It works great and I imagine the money rolling in! I am going to have the lifestyle and I had always dreamed of after all and life is good.

I arrange meetings with the manufacturers I have been referred and they advise me on how much development will cost. After I recover from the shock and regain my composure, I think of ways to raise the necessary investment to make my dreams come true.

My bank wasn't interested in investing but a friend suggested that I get a secured loan if I was convinced my product would be a winner. I had the equity in my house and if I could get a secured loan this would raise enough money to get my project started. I went online to research the process. I realised that I would need to use my home as security but I was so confident in my invention that this didn't unduly concern me.

Of course, if I do not pay back the loan, there was a risk that I would lose everything but there was no turning back! I knew my camp heater was a winner so I applied and got accepted for a secured loan online. Once the funds were deposited into my bank account I contact the manufacturer and we get the plans underway. The next thing I know I am watching my heater being made and placed in stores. It's a great success and it sells really well. In no time at all, I am able to pay back my secured loan and haven't looked back since. Now I'm working on my next big idea!