Bitcoin Forum

Wanted:
2,550 BTC Loan to start a business.  Loan is for renting space, purchasing equipment, and other start-up costs.  Loan payment terms will need to be discussed.  The business should be profitable within 6-8 months, and be able to start paying the loan.

Serious inquiries only please.

Hah.  This made me laugh.

lol

                                                             http://i1109.photobucket.com/albums/h428/keithh409/Dylanconfuse.gif

Dank? Is that you?

No its not Dank.  I'm serious.  Not looking for a handout.

gweedo:  I'd go up to 30%.  Business will be able to pull in $250k profit per year after it's all good.

Then a conventional bank loan should be a snap.

I don't trust banks.  I trust the right people.  Also, I doubt I would be able to secure a bank loan for this particular project of mine.

The only way you gonna get a BTC loan is if the business is immune to currency risk, i.e. if it can generate something which has a constant X:BTC ratio.

Guess:  growing pot.

For one, I doubt any single lender either has or is willing to lend an amount as large as BTC13,500 (which is over $300,000). For another, you're going to have to provide more than you're offering to potential lenders before they invest (which is really what this probably is). For example: what kind of guarantee do you have that your business will be profitable in six months? Do you have a business plan put together? If not, can you create one that can convince lenders to support your business? If you're secretive about your project, people are not going to risk their money on it.

You are offering 30% for 13,500 BTC which means you value your company at 45000 BTC.  How much money have you put into this project?

Why?  They make you pay the money back?   ::)

I have and can provide a business plan to anyone serious that has the cash.

And, I know the business can be profitable in 6 months.  I will be able to provide a far superior product at the same price as the current competition.  I think this could be easily justified in my business plan.

LOL.

-.-

You probably want to lock this thread and move it to Archival.

Not yet.

Where do you live?  In the US?  If so in what state?

Not sure if you're actually expecting to get this, but I'll assume you are.

Nobody here is going to spend over 300k to someone who has 90 posts, little-to-no reputation, and nothing to show for it.

The person that posted about why you don't trust the banks was right: You don't intend to pay this loan back, so why would you go to a bank?

If you're serious about this loan, go to a bank.  Otherwise, go away.

Are you ridgemont4 too?  :o

PS: Just go to the bank. Don't turn to us just because we cannot make you pay back like banks does. Anyone sane enough to undertake this loan needs to have collateral in his hands before even thinking of doing so.

Do you have a business plan?  How much capital are you putting in yourself?  You are going to have to give up at least 50% ownership to secure a 325K loan if you are not contributing any capital.  Why are you buying a building?  Why not just lease to start if the business is so profitable?  When I started my latest company 10 years ago I had all kinds of venture capitalists offering me capital for 25%-50% of the company.  Instead I maxed out 20 credit cards and made it happen.  The cards were paid off in the first year of operation.

Someone should take him up on his offer to meet in person.

Colorado, USA

I'm here because I want more of a "money-man" partner.  I don't have the $$ to get this thing rolling, but I have a great plan and I don't want a bank looking into me and my personal life (as they would for a loan such as this).  Anyone with the money that is willing to take a small risk, could come out with big future rewards.

Like I said, I have every intention of paying it back, and don't necessarily need the loan to be in BTC, I would gladly accept it all in USD.  This business is going to be almost completely legit and I plan to pay all taxes as required by law.

If you don't mind me asking, what part of the business is not going to be completely legit? ???

I also live in Colorado.  How much have you researched the new laws?  A very good question was asked:  why buy when you can lease?  There are some other bitcoiners trying to do the same in Boulder an Colorado Springs.  Perhaps you can hook up with them.

The only REAL collateral I have is my car and my business plan.  I'm a senior mechanical engineering student looking to create my own job, which is also the reason I need a building.  I custom designed it with maximum quality and efficiency in mind.

Burt,  I have done a lot of research.  Refer to above post.  I designed the building.  I won't settle for anything less than the best, and the facility I designed guarantees the best of the best.

The best laid plans of mice and men...

Heavy on the mice.......

You want to try and design your own building?  I have a few mechanical engineering friends and I started out down that path many years ago before I switched to math and physics.  The problem with a mechanical engineer designing a building is you are going to try and micromanage every single aspect of the building until you run out of money.  You will end up with no cash and a half finished building.

I have seen this happen before.

Mechanical engineer != Structural engineer... I've been in the industry a few years and you've got no hope.. You're telling me you've designed everything from ground works to electrical/utility layouts and done structural analysis models of the frame etc on your own?... dream on  :D

I agree and that is why I haven't done all of this on my own.  There also aren't many mechanical things in the building other than HVAC.  I have a lot of experience in other fields as well along with people who can advise me.  I don't claim to know everything, but I know a lot.

Also, there aren't a whole lot of structural things to worry about.  The construction techniques are nothing new and any professional drafter would be able to make blueprints for a GC very easily.

It is going to take you 6 months just to get the plans approved by the city.  Then it will take another 6 months to build the building.  If you lease a building you can be growing by next week.  You can then take profit and plan and build your dream building while you are generating income.

Not planning on building in a city because of regulations.

The whole reason I'm looking for cash is because I don't want to start that way.  Your reasoning makes sense, but not with my plans.

I would suggest not doing a giant grow op, even if it is legally regulated. lol.

Still no answer to those questions, you just ignore them.
I guess (based on you being a student and all you have is a car) you haven't put any capital in by yourself at all,
so why would an investor fund 100% of your project but only get a 30% share (not even knowing what kind of project we're talking about, or which part of it might be illegal)?

made me LOL

-Correct.  I don't have any capital to put in.  Which is why I'm looking for it.  And the whole percentage thing, that's just the deal.  Take it or leave it.  I'm not forcing anyone to take it and I think the cost-benefit is still really good.

-If I said that there wasn't any risk at all I'd be a liar.

Here ya go:

http://www.westernsky.com/

New guy, who does not trust banks but has a plan, anonymously promises gigantic return on unknown, but almost legit investment with little risk.

Where do I send my money?

He actually asks to meet that person, if this is done via online anounymously,it is apparently a scam, but he seems intend to meet the person and go through vetting offline, so I'd rather hold my judgement for now.

You hold your judgement, I'll hold my coins, sound fair?

I always intended for this transaction to take place in person.  I would also need signed legal documents stating the loan terms.  I'm not interested in scamming anyone.

Only a broke student in a state with legal weed would think anyone could possibly take this request seriously.

lulz

sure, with a viable business plan and a contract in writing

no problem converting USD to bitcoins

essentially, I agree

though i don't understand the nonsensical apprehension towards bank loans, it seems like the person making the post would be willing to go through the same vetting process that a bank would conduct when making a loan

so what's the difference?

am i gonna get beat up and have my bitcoins stolen from my person?  oh wait

Write up a business plan, and have it professionally edited.  Upload it, and you will attract those who have the money.

Holy shit, where have you been?

Well, good to see you back :)

What happens when the BTC price raises 5x what it is now before you have a chance to start paying it back?

Moot question because the OP 1) Won't get the loan; 2) Will move onto his next account.

With a loan this big (nearly $400,000 at this point), any lenders would like to see:
1. A lot of documentation and credit check
2. Insurance
3. Proof of residence
4. Willingness to use escrow
5. Something other than a sob story.

What is your plan if you get raided and shut down by the US Government? 

You want to conduct the loan in person and presumably with lawyers present, so not exactly a scammer.
But, you need to at least sketch a picture for us, if not a full-blown plan. From your reluctance to share I'm guessing the idea is either illegal or stupid. PM if you're shy, but I'm curious to find out which.

This ^

If you are serious about the loan, then we're going to need to see a hell of a lot of documentation and details. Give us a reason to loan you money.