I will admit that I know nothing about long arming but I happen to know quite a bit about business.
IF you are looking to make money at this and make it a business, not a hobby, there is alot more to it than practicing your craft. LA machines are expensive pieces of equipment, 10-35K, that require training and supplies PLUS dedicated physical space. Then there is the marketing side not to mention the accounting/business/tax side.
If it was me, I would consult with your local Small Business Development Center. It is the center that is paid for by your tax dollars that helps people get SBA loans, do business plans and marketing plans. They will help you do a realistic business plan. Is .015 a square inch actually covering your cost or are you just cash-flowing your payments? How do you track estimates, scheduled work, payments and costs for a project? What are your revenue streams (LA quilting just done by you or are you going to rent the machine out) and are these different markets? New versus used equipment? How much capital are you able to invest up front--that's not finance but to actually write a check for. Future earnings in business need to be able to not only support you but to provide enough money to replace that piece of equipment in a reasonable amount of time.
Every machine manufacturer is probably hooked up with a finance company that will gladly lend you the money to purchase the machine....that's not the question.
The question is really....Is this venture profitable enough with a solid, logical business plan to be a business? What will be the return on investment for your capital invested and work?
I know I just said alot of really heavy things but going into business is not the same as making a few bucks on the side from a hobby and you need to decide upfront which you are looking to do.
Good Luck