Say, for example, I wanted to
loan 100.0 BTC. I think I can pay back the principal of 100.0 BTC with a 2.5% interest of 2.5 BTC in 2 weeks. If I don't make it from mining, I can probably earn that from trading at localbitcoins.com because I do small exchanges in local currency. (nick is Dabs, location is Philippines). I make sure I have a profitable spread.
https://localbitcoins.com/accounts/profile/Dabs/Loan: 100.0
Pay: 102.5
Time: 2 weeks
My traditional business does about the equivalent of 200 to 300 BTC in revenues, but I want to keep fiat business and bitcoin business separate.
Send me a PM if you are interested so we can also work out the terms, or if you are willing to extend it to 1 month for 3% or 4%.
Expires: March 31, 2013 (end of this month).
Lot of money and risk for so small reward. You may want to check your wording. You want a loan or to give a loan?
Sorry about that. I wanted to borrow. Or I want a loan. As in, lend to me 100 and hope I can turn it into at least 102.5
I do business with fabric suppliers and they extend to me loans based on purchases (or they give me terms of 60 to 120 days for rolls of fabric) which I turn into finished products then send them to department stores. The stores then take an average of 3 to 9 months to sell most of the finished products, then I get paid the month after that for those products that got sold.
I am used to paying 1% interest on fiat based loans (PHP or Philippine Pesos), per month, and sometimes it takes maybe from 2 to 4 months just paying the interest, before paying the principal, or some other arrangement or combination of interest and principal, so I thought 2% to 4% was high even for BTC.
I don't borrow from banks because their effective interest rates are much higher, however I do have a couple of vehicles in my name on a 36 month auto-loan from a bank.
Worst case scenario for me is I don't make enough to pay back, but just return the 100.0 BTC principal untouched (you can always check the block chain) and I buy 2.5 BTC from someone else or from an exchange.
If no one has that amount, I guess I will just have to buy it from a direct seller (of bitcoins) or from one of the exchanges. Or I can probably settle with a lower loan amount and see what I can do with that.
I have bank statements or certifications in my name, driver's license, passport, military ID, firearm license and permit to carry the same, BIR tax forms (BIR = Bureau of Internal Revenue, something like the IRS) and audited financial statements of assets and liabilities for my business (signed by a CPA or Certified Public Accountant) and SSS ID (similar to Social Security, but the Philippine equivalent.) I also have recently expired court clearance, prosecutor's clearance, NBI clearance (National Bureau of Investigation), local police clearance (Philippine National Police), Mayor's clearance (for city), and Barangay clearance (like a county or village signed by the head of the government unit.) I also have an exemption certificate from the COMELEC (Comission on Elections) that allows me to carry my personal firearm with me, despite the ban on carrying firearms due to the election period. We are electing half of our Senators by May 2013, and a bunch of Congressmen and other local government officials, and the Comelec has declared firearms not allowed outside the homes, to avoid violence (stupid I know, but that's the Philippines for you.)
