Post a link, along with the CORRECT information for requesting a loan. Please see below:
10/11/12 UPDATE: If you don't feel like reading this, or clunkily dealing with everyone individually, a streamlined process seems to be available. Though I have not used and do not endorse the product -- it may be worth the time of potential lendees to visit
https://btcjam.com/(written for US residents -- necessary documents will vary by country of origin)
Expect at least 2x the "typical" BTC lending rate, and difficulty finding a lender, if you fail to provide the following:
*Government-issued photo ID -- should be valid
*Utility bill proving you live at the address on your ID
*Pay stubs or income tax returns (unnecessary if you provide SSN, address, current employer, and consent to credit check)
*"Proof of Reputation." This is generally OTC-WoT rating information, links to successful transactions on this forum, or from a different third-party source. If you do not have other convincing information, it's essential you have "Proof of Reputation" for any chance of receiving a loan.
*Proof of funds if you intend to "arb" (for example, if you deposit lent funds into a higher-paying program - "Proof of Funds" is generally showing you have enough funds to cover your debts were your deposit in another program not returned. Bank statements, or showing you control a certain amount of BTC by transferring it to one of your addresses, among other forms, are generally acceptable.)
Expect to pay a significantly higher rate than you could otherwise receive if you fail to also provide the following:
*SSN
*Current Address
*Employment information (current and last three with dates of employment)
*Consent to perform a credit check
ETA: You likely do not need to send your actual SSN to a potential lender, but could instead use a service where a company links you to a .pdf file, you sign it and give your SSN to the company. The lender, then, would not see your SSN, just the credit report.
With your credibility and identity established, you may also find it beneficial to provide your lender collateral in the form of physical goods you prove ownership of with a picture which has the current date on it, including you in the picture.
Please also provide your intentions with regards to what you want to do with the loan. For example, if you want to purchase mining hardware, please tell us which hardware.
Example:"My name is Ben Malec. I am seeking a 50BTC from 8/1/12 to 11/1/12 to assist in the purchase of 3 Jalepeno units from BFL, but I do not wish to deal with the hassle of setting up an account at an exchange. I currently work as an administrative clerk at Community Assistance Programs and Services, LLC at 3131 Earl Drive, Spring Arbor, MI, 49283. This address is also where I currently live. I have been employed there for three years. My annual income is roughly $22,000, though I am not salaried, so this varies by services rendered in the particular year. I have no previous employment history. I receive roughly 25BTC per month from a 10GH/s farm on Eligius. This operation is registered as a sole proprietorship, DBA KMining, registered in Jackson County. You can view my mining stats at
http://eligius.st/~artefact2/7/19oxq542VLytWkP6QQt2kGutq1qrxr1s2e. I intend to repay my loan with mining income. In the event that I am unable to repay my loan with mining income, I will purchase BTC with USD, or transfer USD to you directly through Wire or ACH if you'd prefer. I consent to you performing a credit check.
Photo ID:
(img)
Utility Bill:
(img)
Proof of Funds:
(img of bank statement)
SSN:
xxx-xx-xxxx (ETA: Alternately, ask lender to find a company which takes your SSN, sends a .pdf [or link to .pdf on their server you can sign] to your email address you'd digitally sign, authorizing the credit report to be given, and then that company'd provide the lender with only the report, and not the SSN)
OTC rating:
http://bitcoin-otc.com/viewratingdetail.php?nick=bdk_kluge&sign=ANY&type=RECVSigned message available upon request.
Phone references:
xxx-xxx-xxxx Ask for Wilford Brimley. Relationship: Current Employer
xxx-xxx-xxxx Ask for Jon Holmquist. Relationship: Business Associate
xxx-xxx-xxxx Ask for Leonoardo Benetti. Relationship: Life-long Friend
Contact Information:
Skype - bdk_kluge
Email - AdmXXXXXXoin.com
Freenode - bdk_kluge
Phone - xxx-xxx-xxxx
If you need any other information, you may reply to this PM or otherwise contact me. I don't want to pay more than 5% MPR, but may be willing to bend.
lmk,
Ben"
This example request clearly tells me why you want the loan, why you haven't tried funding elsewhere, your contact information, information to check your credit rating and reputation, as well as solid authentication of your claimed identity. By providing all this information up-front, it makes the loan much more convenient/attractive for me, it's dramatically quicker to process, is likely to secure you a substantially lower-than-average interest rate, and shows me you've spent a bit of time organizing the information. You may wish to encrypt this information. If a lender does not have a public key on their lending thread, they will often provide one to you if you PM them requesting one.
NOW THAT YOU HAVE READ THE PRECEDING INFORMATION, you may wish to contact the following lenders:
- Me -- DEFUNCT
- Patrick -- DEFUNCT
- HashKing -- DEFUNCT
- senbonzakura -- Focus: Small, interest-free loans -- Lends in: BTC -- Writes/reads: English, Arabic
- Znort -- Focus: Short-term loans -- Lends in: BTC, USD? -- Writes/reads: English
- Burt -- DEFUNCT
- INAU -- DEFUNCT
ETA: Keep in mind - I'm not saying you can't get a loan while being pseudonymous, but it'll probably be much more difficult if your pseudonym doesn't have a reputation. You obviously don't need to provide anything you're uncomfortable with, and probably should trust your common sense when in doubt. You could provide lenders a lien on your house, and while that may be "most efficient," may not be a wise move. Caveat emptor.
I'll update OP with appropriate suggestions. Cheers,
Ben
