Planning for the Unexpected with Discover Personal Loans

 

Since making the leap from “World Famous Food Blogger” to “Moderately Successful Food Trucker,” I’ve learned a lot about how unexpected expenses can throw your financial life into total disarray. I’ll give you an example from last summer.

We were humming along on the ‘Wich, Please truck, our seasonal food truck here on the coast of Maine. Summers are, in a nutshell, completely crazy, and we often serve upwards of 100 customers in a single lunch shift, out of our tiny 8×10 concession trailer. Normally, we can keep up with the demand, but last summer, we had an equipment failure that forced us to scramble hard to recover. What happened? After a particularly busy lunch rush, on a sweltering hot (well, by Maine standards) afternoon, our reach-in refrigerator went belly-up, after we had packed up and left for the day. Just up and quit.

We lost thousands of dollars worth of product, including fresh produce, dairy items, and pounds and pounds of beautiful Maine seafood. The loss of inventory was a tragedy, but worse still was the cost to repair the refrigeration unit: Another $800 to rebuild the compressor and install a new thermostat, plus a day’s lost revenue while repairs were being completed. All told, I think that one equipment failure probably resulted in a financial hit to the tune of $3,000.

Now, many food trucks, including ours, live life on the edge of a financial razor. It’s simply not possible to absorb a $3,000 loss, without some serious help. That’s why I’m glad to have Discover Personal Loans in my back pocket, for just these kinds of unforeseen circumstances that would otherwise shut down my business.

Discover Personal Loans can be an ideal solution for individuals and families with good credit and a strong financial history. The loans have no origination fees, which means you’ll receive 100% of your approved  loan amount. You get competitive, fixed rates with flexible repayment options, to help you tend to life’s minor emergencies, like a major appliance that suddenly decides not to work anymore. Discover Personal Loans cover many loan uses, like life’s big events, wedding and vacation loans, major purchases like green loans, furniture, or debt consolidation and credit card refinancing. Best of all, if the language of the personal loan market sounds like complete gibberish to you, the way it does to me, Discover’s 100% U.S. based loan specialists can help you decide which loan term works best and how quickly you want to pay it off.

For businesses like ours, Discover Personal Loans offer another direct benefit: If you’re able to pay the loan off in 30 days, you won’t lose a dime. No interest, no nada. Just cash when you need it. It’s like having a well-heeled uncle to bail you out when the unexpected happens. And if you can’t pay the loan off in 30 days, that’s okay, too; You can work with a Discover Personal Loan adviser to pay off your debt at a loan term that works for you. You’ll know from day one exactly how quickly you can pay off your loan. You pick the timeline that best fits your financial situation.

Want to learn more? Check out Discover Personal Loan’s free personal loan calculator (don’t worry, it won’t affect your credit score) to learn more about how a personal loan can put you on the path to financial freedom.

Would you consider using a personal loan?

Be sure to visit the Discover brand page on BlogHer.com where you can read other bloggers’ posts!

 

 

Malcolm Bedell

Author

Malcolm Bedell is co-author of the critically acclaimed "Eating in Maine: At Home, On the Town, and On the Road," as well as the taco-centric blog "Eat More Tacos," with writing and photography credits including Serious Eats, Down East, L.A. Weekly, The Guardian, The Huffington Post, and more. His seasonal food truck, "'Wich, Please," was named "Hottest Restaurant in Maine" for 2015 by Eater, and he finds it very silly to be trying to write this in the third person.

Eat More Tacos
'Wich, Please