Looking to refinance debt 8/12/26/52 week amortization loans.

[Projects]

I am seeking funding to refinance higher APR debts and seeking finance in the form of 8/12/26 and 52 week amortization loans.

Background:

I currently have several debts to members of this forum outstanding alongside high interest credit card and personal loans which I wish to refinance to lower APR. The debts I wish to refinance range from 24.9% APR to over 50% APR.
I have never been late on any loans or missed a single payment. Many loans have already successfully been repaid and I am agressively repaying my debts and clearing most of them early. I will continue to do this even if I do not get any interest here.
I am in full time employment, own my own business and run a successful currency exchange service here on the forums.
My salary is currently over $40,000 per year and I will not have any problems meeting repayments since it is essentially saving me money by taking out a loan in this way.

Why not seek traditional funding?

Currently the only finance available to me is at a much higher APR than 24.9% also the ability to repay in bitcoins is a bonus for me since I have a thriving business trading bitcoins and have them readily available to me at under market value, so not only will the interest be less if I refinance to someone who accepts bitcoins at current market price, I will save some money by purchasing them under "spot" for the repayments.
To clarify; loans will be denominated in USD and repaid in USD - BTC will just be the vehicle for the fund transfer, this protects us both from volatility and will guarantee a return to the lender and guarantee I will not enter any difficulties repaying should BTC quadruple in value.
We will use mtgox average to deterime the original loan amount and use the mtgox average price for the repayments also or I can accept / pay with bitstamp / BTC-E codes.
Also if you are in the UK I can accept £ paid into my current account and either repay you with £ into yours or with BTC at market value.

Debts which I wish to restructure in interest order:

Eisenhower outstanding @ $3500 interest 5% per month.

Credit Card @ 49.9% APR - Outstanding balance £352.50 Repaid in full account closed

Tradefortress outstanding @ $376.25 29% APR Repaid in full

Personal loan outstanding @ £2400 24.9% APR.

I also have an outstanding loan with BTCJam @ $1816$1530 but since I still have to pay full interest if I repaid it there is no sense in paying it off early when I can pay the above to save interest, just adding this here to be transparant.

I also owe BurtW $1500, which was originally $4800 from a BTC denominated debt which he kindly converted to fiat after BTC quadrupled in value, lesson learnt will not be borrowing in BTC again!

References:

I have loaned BTC to Projects many times in the past and he has never missed a payment or even been late.

Projects is a guy you can count on.

I have loaned BTC to Projects many times in the past and he has never missed a payment or even been late.

second that.

I have loaned BTC to Projects many times in the past and he has never missed a payment or even been late.

second that.

Third that.  

Projects has repaid this loan.

Thanks for the super early repayment Projects. Recommended borrower!

Loans proposed:

I offer interest of 1% per month (12.68% APR) on 8 and 12 week loans and 1.6% per month on 26 week and 52 week loans (20.98% APR)
I realise this may not be very attractive compared to many other "hyip" or "payday loan" offers in the lending section however this is a realistic amount offered by a genuine individual who will not dissapoint or mess you around. Also I need to refinance my debts into lower APR so I cannot offer a higher interest rate.
I am willing to accept any amounts over $100 from multiple individuals, I also have made a BTCJam listing for people who wish to invest less than $100 (or you can invest more, up to you). I am fully verified on BTCJam with my ID/Proof Of Address/Proof of Income. I do not use social networking sites and I cannot link my ebay/paypal to BTCJam as they are in my partners name not mine.
You can see I have repaid already close to 400 BTC in loans on BTCJam without a single missed/late payment
I welcome any questions and thank you for your time and consideration if you wish to lend me money please pm me to discuss.

[danieldaniel]

May I ask why you took all of these loans in the first place?

(Yes, I am a potential investor.)

[Projects]

May I ask why you took all of these loans in the first place?

(Yes, I am a potential investor.)

Of course you can ask, like I said I welcome any questions
The one from Burt started at a 40 BTC loan but when BTC was at $30 or so, due to the price explosion he agreed to lock it in at $120 when the price exploded well above $150.
This still meant paying back $4800 on a $1200 loan, but lesson learnt, will never borrow BTC unless it is indexed to fiat again.
The other loans (and the initial 40 BTC) for Burt were all taken for expansion of my business, credit is not easy to get for your own business unless you can show 3 years worth of books, which I do not have yet.
So the only credit available to me is at higher than 24,9% as outlined in the "why not seek traditional funding" above.
I am a good credit risk as I own collateral (the stock for my business) and should in the unlikely event it fail, I could liquidate that to repay all loans if necessary, however my business is profitable currently I just needed funds to start up the venture and to expand.

Hope this answers your question if you need me to clarify anything please let me know.
In additional I currently owe Burt now $1500 rather than $3200 so you can see I am paying off what I can when I can, just hoping to refinance some to lower APR.

[danieldaniel]

May I ask why you took all of these loans in the first place?

(Yes, I am a potential investor.)

Of course you can ask, like I said I welcome any questions
The one from Burt started at a 40 BTC loan but when BTC was at $30 or so, due to the price explosion he agreed to lock it in at $120 when the price exploded well above $150.
This still meant paying back $4800 on a $1200 loan, but lesson learnt, will never borrow BTC unless it is indexed to fiat again.
The other loans (and the initial 40 BTC) for Burt were all taken for expansion of my business, credit is not easy to get for your own business unless you can show 3 years worth of books, which I do not have yet.
So the only credit available to me is at higher than 24,9% as outlined in the "why not seek traditional funding" above.
I am a good credit risk as I own collateral (the stock for my business) and should in the unlikely event it fail, I could liquidate that to repay all loans if necessary, however my business is profitable currently I just needed funds to start up the venture and to expand.

Hope this answers your question if you need me to clarify anything please let me know.
In additional I currently owe Burt now $1500 rather than $3200 so you can see I am paying off what I can when I can, just hoping to refinance some to lower APR.

Great transparency!  That made me think of two more questions:

• How much does your business generate per month?  More specifically, is it enough to pay back this loan?
• Would you be willing to make a contract stating that the stock in your business is collateral?

[Projects]

My business is seasonal so has some exceptionally good months with some exceptionally quiet months but averaging a profit of at least $2000 per month and projected to rise month on month.
I run the business myself so there is no other staff to pay so the $2000 profit is essentially my wage, however I do reinvest some profits back into the business each month for it to continue to grow.
I would be willing to make a contract regarding the collateral, however I do not intend to default
I have never been late or missed a payment for any of my obligations currently and this actually SAVES me money in interests saved on higher apr debt, so if anything I have even more money available if some of this gets refinanced.
Again feel free to ask any questions / clarification

[danieldaniel]

My business is seasonal so has some exceptionally good months with some exceptionally quiet months but averaging a profit of at least $2000 per month and projected to rise month on month.
I run the business myself so there is no other staff to pay so the $2000 profit is essentially my wage, however I do reinvest some profits back into the business each month for it to continue to grow.
I would be willing to make a contract regarding the collateral, however I do not intend to default
I have never been late or missed a payment for any of my obligations currently and this actually SAVES me money in interests saved on higher apr debt, so if anything I have even more money available if some of this gets refinanced.
Again feel free to ask any questions / clarification

I wasn't implying that at all. 

I'm probably going to invest some (1-2 BTC) once I buy some.  On the off chance that you accept PayPal or PopMoney for loans, I *could* do it now.  PM me if that's the case.  Otherwise, I'll let you know!

[Projects]

Just to confirm I have received $130 from Daniel for a 2 month loan with payment in full on or before 8th July of $131.96
This will be used with funds of my own to clear the debt to TradeFortress, I have contacted TradeFortress to confirm a payoff figure and will update this thread once that has been completed.
Edit: TradeFortress loan now repaid in full with the proceeds of this loan from Daniel and my own funds.
If anyone else is interested in loaning to me please contact me.

[Projects]

Received another £500 loan from someone else over 6 months, I will keep this anon unless the lender wishes otherwise.
I have used this to repay the credit card and close it, and the monthly interest for Eisenhower due on 22nd May.
I have updated the original thread to show my progress.
Still looking to refinance the rest can accept BTC indexed to the USD/£, UK Bank Transfer or Paypal for the loan.
Please pm me to discuss if you are interested.

[danieldaniel]

Received another £500 loan from someone else over 6 months, I will keep this anon unless the lender wishes otherwise.
I have used this to repay the credit card and close it, and the monthly interest for <redacted> due on 22nd May.
I have updated the original thread to show my progress.
Still looking to refinance the rest can accept BTC indexed to the USD/£, UK Bank Transfer or Paypal for the loan.
Please pm me to discuss if you are interested.

You gave his name in the post, btw. 

Also: I'll post in here once he pays!

[Projects]

Received another £500 loan from someone else over 6 months, I will keep this anon unless the lender wishes otherwise.
I have used this to repay the credit card and close it, and the monthly interest for <redacted> due on 22nd May.
I have updated the original thread to show my progress.
Still looking to refinance the rest can accept BTC indexed to the USD/£, UK Bank Transfer or Paypal for the loan.
Please pm me to discuss if you are interested.

You gave his name in the post, btw.  

Also: I'll post in here once he pays!

I never disclosed his name. I used the loan of £500 to PAY Eisenhower for my current debt, as well as closing my cc.
This was someone else not you, you already posted in this post showing interest so I didnt think that was an issue

[danieldaniel]

Received another £500 loan from someone else over 6 months, I will keep this anon unless the lender wishes otherwise.
I have used this to repay the credit card and close it, and the monthly interest for <redacted> due on 22nd May.
I have updated the original thread to show my progress.
Still looking to refinance the rest can accept BTC indexed to the USD/£, UK Bank Transfer or Paypal for the loan.
Please pm me to discuss if you are interested.

You gave his name in the post, btw.  

Also: I'll post in here once he pays!

I never disclosed his name. I used the loan of £500 to PAY Eisenhower for my current debt, as well as closing my cc.
This was someone else not you, you already posted in this post showing interest so I didnt think that was an issue

Ah, I see.  You can post my name all you want, heh. 

[Projects]

Still looking to refinance the outstanding please pm me if you wish to talk about it.