1 year loan

[zif33rs]

Hello everyone.

I am seeking a 10k loan for Hostedmining.com. I can pay back 1k a month for 12 months. Where I have the farm now just can not deal with the heat properly. I need to lease a larger space and just dont have the capital right now to do what needs to be done.

I would like the rate to be locked at what I stated above. Basically a 20% loan for 12 months.

Let me know what you think.

[zif33rs]

I really dont have anything worth that much that I own free and clear besides the business. I own a home..but I dont want to refi that. It would be a pain in the ass. My ex wife and kids live in it.

I could go to the bank and see about a small business loan I guess. I thought I would see what the reaction of the forum would be first.


I am not sure what my best options are going to be so am kinda just thowing this out there.

What do they call it?  I think I am looking for a white knight?

[zif33rs]

"or work for it."   Well...doing plenty of that.


Appreciate your reply. 

[Vod]

I really dont have anything worth that much that I own free and clear besides the business.

Issue some more shares to raise the capital.

[zif33rs]

Thats a great idea.


I am picking up some smaller personal loans for the immediate future but would still like to raise 10k for a larger hosting center. I am not to familiar with IPO laws. I think anything under 500 shares is safe from SEC reviews but am not 100% certain.

[Damnsammit]

ewwww you don't want to do an IPO... that's a horrible way to sell shares for small companies - unless you want to create a shell company and invade the OTC boards with a scam lol

Keep the company private.  

Do you have an LLC or a S/C Corp?

[zif33rs]

Its an LLC.

 And ya..im not fond of this at all. But I really dont have the capital to take this to what it could be. I need to come up with something...something legit.

I believe in cryptocurrencies...I want to be able to get new people into it. I think Hostedmining offers that but unless I can expand and offer a real hosting solution I am just spinning my wheels.

[Damnsammit]

Its an LLC.

 And ya..im not fond of this at all. But I really dont have the capital to take this to what it could be. I need to come up with something...something legit.

I believe in cryptocurrencies...I want to be able to get new people into it. I think Hostedmining offers that but unless I can expand and offer a real hosting solution I am just spinning my wheels.

You need to read up on how to issue memberships/share certificates for your LLC in your state. 

Or pay someone to that knows how... I only have done this in Texas, but I am sure it is easy in all states.

You could easily split the company up into 1000 shares representing 0.1% of the company, and hold on to 600 shares, and sell 400.

Then you just have to have a clear accounting trail, and anytime you take a profit you issue dividends to all the share holders... assuming you are profitable?  If not, then I don't think you will be able to sell those shares very easily

[zif33rs]

Yea..I pretty much have an idea as to how and what to do.

I also have an attorney...but at 275 an hour..what profits I do make get eaten up fast to have it done like that. I suppose there is no other way to go about it.

And yes, the company is profitable. Not alot but solid enough to pay for itself and show a decent return at current prices. When the market rebounds...well.. <

Regardless of how this all turns out, I am living my dream. This is what I want to do and I am good at it. Its taken me a life time to find the courage to step out and make this happen.

I jumped into this feet first like usual..and good or bad this is where I am.

Appreciate the replies.

[cptmooseinc]

I don't have $10k sitting around to help invest or I would, but seeing as how I have $15k worth of hardware with you, I'm willing to offer a small loan of what extra I do have...

Terms:

1.) $500 to be loaned to zif33rs by cptmooseinc
2.) $575 to be repaid to cptmooseinc by zif33rs
3.) For the first two full calendar months after the loan is sent, fees that I pay to Hostedmining.com will stay steady at the 20% I already pay. No payments need to be made during this time to me as long as my miners are all hashing and Hostedmining.com continues to provide my hosting services. After September ends, my fee will drop to 15% for October onward until the loan is repaid via the 5% of the fee that I'm keeping or until zif33rs pays the balance in full. Fees are always paid on the first of the month with Hostedmining.com, so the value at the time of transaction for payment will constitute what exactly I pay and how much the value of what I kept is.

Example:

My rigs produces a combined 400LTC in the month of August. 20% of that is 80LTC. Divide that by 4 is 20LTC per 5%. Zif gets paid 60LTC and I keep 20LTC. If LTC is valued at $3/LTC at the time I send him the coin, then the 20LTC I kept is worth $60 and only $515 of the loan remains to be repaid.

4.) This process will continue until the loan is repaid in full. In the likely event that an odd balance is due in the final month of repayment (whatever it may be), whatever is necessary to finish fulfilling the repayment amount will be deducted from the standard 20% fee and the balance of the hosting fee sent to zif33rs.

5.) Early repayment can be made, with no discount to interest owed, at anytime by zif33rs to reinstate the full 20% hosting fee for the current calendar month. Payments made with LTC/BTC must be verified as ready to accept by cptmooseinc before being sent. Dwolla repayment can be sent at any time without notification to cptmooseinc.

6.) In the event that Hostedmining.com has to fold, zif33rs will honor all terms of our signed hosting contract, as well as continue to pay cptmooseinc $75/month until the balance of the loan is paid in full.

7.) Repayment can be made in BTC, LTC, or Dwolla USD.


If you agree to these terms, please click the "quote" link in the top right corner of the post, then write "I agree". After you have done so, I will send funds via Dwolla to your Dwolla ID. I'll be sending $500 exact and you must assume the $0.25 transaction fee for accepting.

Good luck and hopefully this will help some if you're interested in it.

-Moose

[zif33rs]

I don't have $10k sitting around to help invest or I would, but seeing as how I have $15k worth of hardware with you, I'm willing to offer a small loan of what extra I do have...

Terms:

1.) $500 to be loaned to zif33rs by cptmooseinc
2.) $575 to be repaid to cptmooseinc by zif33rs
3.) For the first two full calendar months after the loan is sent, fees that I pay to Hostedmining.com will stay steady at the 20% I already pay. No payments need to be made during this time to me as long as my miners are all hashing and Hostedmining.com continues to provide my hosting services. After September ends, my fee will drop to 15% for October onward until the loan is repaid via the 5% of the fee that I'm keeping or until zif33rs pays the balance in full. Fees are always paid on the first of the month with Hostedmining.com, so the value at the time of transaction for payment will constitute what exactly I pay and how much the value of what I kept is.

Example:

My rigs produces a combined 400LTC in the month of August. 20% of that is 80LTC. Divide that by 4 is 20LTC per 5%. Zif gets paid 60LTC and I keep 20LTC. If LTC is valued at $3/LTC at the time I send him the coin, then the 20LTC I kept is worth $60 and only $515 of the loan remains to be repaid.

4.) This process will continue until the loan is repaid in full. In the likely event that an odd balance is due in the final month of repayment (whatever it may be), whatever is necessary to finish fulfilling the repayment amount will be deducted from the standard 20% fee and the balance of the hosting fee sent to zif33rs.

5.) Early repayment can be made, with no discount to interest owed, at anytime by zif33rs to reinstate the full 20% hosting fee for the current calendar month. Payments made with LTC/BTC must be verified as ready to accept by cptmooseinc before being sent. Dwolla repayment can be sent at any time without notification to cptmooseinc.

6.) In the event that Hostedmining.com has to fold, zif33rs will honor all terms of our signed hosting contract, as well as continue to pay cptmooseinc $75/month until the balance of the loan is paid in full.

7.) Repayment can be made in BTC, LTC, or Dwolla USD.


If you agree to these terms, please click the "quote" link in the top right corner of the post, then write "I agree". After you have done so, I will send funds via Dwolla to your Dwolla ID. I'll be sending $500 exact and you must assume the $0.25 transaction fee for accepting.

Good luck and hopefully this will help some if you're interested in it.

-Moose

I agree.

Thanks cptmoose.

[cptmooseinc]

I agree.

Thanks cptmoose.

Funds have been sent via Dwolla to your Dwolla ID. Please confirm receipt of funds in this thread.

[zif33rs]

$500 received. Thank you sir.

Dwolla ID: 812-570-8472
zif@hostedmining.com

7/10/2013
8:16 PM
500.00

[cptmooseinc]

This post is to confirm that zif33rs has repaid his loan early. Very happy with this transaction. ^_^

Can't wait to do further business with zif and hostedmining.com!

-Moose

[zif33rs]

Thanks for everything Moose. Due to your generous support Hostedmining is well on its way to 50+ mh\s mining scrypt. I have starting the process on moving to a new Hosting facility this month. I will have photos and updates once I have the lease in hand. I will have room for plenty of rigs with over 2000sf of secure space and two 200 amp service panels at the new location. I am very excited about the future for Hostedmining and Cryto-Currency.

 

zif33rs

Hostedmining