Posted by Steve Dedman on January 19, 2001 at 18:48:51:
In Reply to: loans for instrument purchases... posted by broke-tubist on January 19, 2001 at 16:35:17:
Does yur school have a credit union? It's typically easier to get a loan from a credit union (if you are a member) than a bank. That's the route I went, and they let me use the horn as collateral.
Also, I would venture that when you ask a banker for a $6000 loan for a tuba, they think that you are wanting a loan to buy a souped-up luxury Rolls-Royce of tubas, instead of a mid-line horn that is capable of being played professionally. They are thunderstruck to find out what a good quality instrument can sell for. My credit union couldn't believe that an 8 year old tuba could possibly be worth $1800! They had to have confirmation from a local music store uninvolved with the deal AND an appraisal from the local symphony pro.
The loan officer would be apoplectic if he knew what one of the "Holy "Yorks" would sell for on the open tuba market!
I wish you a lot of luck, and hopefully I can find the cure for Mafundsalo, too.
Steve