Hello, I'm looking for a small business loan. I have been selling electronic cigarettes for the past 8 months and doing very well. Currently I sell at my local flea market on the weekends only, and gross between $3,500-$4,000 monthly sales. Recently I have been shopping around for a store for the future, and it will cost around $10,000 to get into a store, so I had all the time in the world to save.
Recently the electronic cigarette store in my local mall lost their contract, they lost their contract because the owner was never attending his store, and its $3,500 to move in, a much better deal than $10,000 and it has flow through traffic.
Why cant I just save up for a month you ask?
Competition, there is already another person who has a store at the mall looking to open up an ecig shop in the mall, so for a steal of a deal I have to beat him to the contract. I have been taking all the sales for the past 8 months and reinvesting to more product. And now I have over $40,000 worth of product for sale.
Why am I asking for $4,000 worth of BTC/Fiat when its only $3500 move in? Depending on the location it can be between $3,200-$3,700 literately 10 feet over can be $150 more expensive per month, I will be renting a kiosk for ~$1,500/mo.
How will I pay the loan back?
Right now I'm not running month to month on product, I have the product for the next 8-10 months (at current rate at the flea market). I have a steady customer base because ecigs are not like shoes, customers have to come back and buy nicotine.
We can make arrangements for re-payment with interest to start 30 days after opening the store, this way there is some grace time.
After the last payment is made the following 30 days I will give you 5% of total profit of the next 30 days.
I'm looking for something in the lines of 3 months repaid $5,000 total + 5% of profit the following month after loan repayment BTC/Fiat, but its open for negotiation. If by the off chance I'm not able to make the full payment for the month, an extra 8% interest will be added to the remaining balance.
Please PM for any questions, I'm able to offer any information about myself, credit card transaction records, where I live, my phone number, drivers license number, 700 credit score, pictures of inventory, and all bills always paid on time.
If by chance, the other interested party signs the contract before I do, loan will be repaid + $150 interest.
I'm looking for 1-2 parties preferably 1. If 2, interest will be divided by 2 including the 5% profit.
P.S. if you have 9 posts and joined yesterday, don't get your post count up here spamming my thread
