Business Investment 2.43BTC - United Kingdom.

[Grantuk85]

As a last resort;

I am happy to do the following;

Loan Amount: 2.43 BTC or £20,000 depending on current value.
Repayment: £1,800 per month or £1,000 per week.
Bitcoin Address: 19r7vaHwT839qaEkrdx2Fvnw9YvUhHLHcm
Number of days: 12 Weeks £2,000 per week return.
Collateral offered: Spray booth valued at £28,000 and 49% Share in business to be bought back after the loan has been repaid.
Purpose: Business Assets

The problem is, the spray booth isn't valid collateral, as you would have to give it to the lending party to hold whilst you repay the loan. However, I'm pretty sure you actually need the spray booth for your business, hence it cannot be used as collateral.

Thats true Parodium, Plus the cost of moving a spraybooth is around £2,500 and the same to reinstall it.

I dont think that I've got any other collateral which I could use.

You could probably get a loan from the bank if you've tried them?
If you have the earnings you say you have, they'll be fairly happy to lend to you (other than the fact that you're self employed).

Also, what's your company number, I might consider investing half or a quarter if someone else can come up with something as well.

Hi Jackg,

Yes tried with a few banks and also asset finance companies. Shown them the profits the companys making per week but they all base it off a credit rating rather than proof of income.

Company number is; 10544504


Thank you for your offer for half/quarter hopefully someone else will be interested investing the other percent.

[jambola2]

Some things are unclear, like this:

Loan Amount: 2.43 BTC or £20,000 depending on current value.

Does this mean you will only pay back £20,000 regardless of how BTC's price changes? If so it might be a bad idea.
Otherwise, does it mean you are willing to pay a larger amount if BTC's price increases?

But other than this, the concern raised by others still stands.
Websites like BTCJam tried to establish trust in users by requiring identity verification, and prior trust and everything, but it generally tended to be a bad idea without actual collateral.
Even if you could actually prove without a shred of a doubt that you had a business as you stated, there's no reason to believe you wouldn't run away with the money, which is an issue.

Furthermore... it has been about a week since you posted this... and with an actual monthly profit of £50,000, you should already have £12,500 of the £20,000 you wanted.....  If your numbers aren't bogus, maybe you should just wait a few more days and you'll be able to afford everything  

[Grantuk85]

Some things are unclear, like this:

Loan Amount: 2.43 BTC or £20,000 depending on current value.

Does this mean you will only pay back £20,000 regardless of how BTC's price changes? If so it might be a bad idea.
Otherwise, does it mean you are willing to pay a larger amount if BTC's price increases?

But other than this, the concern raised by others still stands.
Websites like BTCJam tried to establish trust in users by requiring identity verification, and prior trust and everything, but it generally tended to be a bad idea without actual collateral.
Even if you could actually prove without a shred of a doubt that you had a business as you stated, there's no reason to believe you wouldn't run away with the money, which is an issue.

Furthermore... it has been about a week since you posted this... and with an actual monthly profit of £50,000, you should already have £12,500 of the £20,000 you wanted.....  If your numbers aren't bogus, maybe you should just wait a few more days and you'll be able to afford everything  

Sorry, Will be borrowing £20,000 for 12 weeks paying back £2,000 a week works out at £24,000 or if its in BTC value would be borrowing 2.61 at this current value adding 20% for interest. (If the price of BTC drops inbetween lending and paying back I will pay it back at the rate it was borrowed if its goes up I will pay the current rate on that day.

I've tried on BTCJam but they are closing and currently awaiting verification on BTCPOP to apply for a business loan.

The turnover per month is £50,000 the profit ranges from 9k per month to 12k per month. As December was a busy time of year due to the accidents with the ice/snow in the north west.

I do have £20,000 saved which will be put with the loan to buy the equipment.

http://prntscr.com/i4tw50 Screenshot of the Decembers paying in/paying out.

[Grantuk85]

Jackg I can’t reply back to your PM due to a limit of 2 per day. If you want to PM me your email address or I can reply tomorrow.

[Kivalar]

Hi Coinmarble,

Thank you for the very good question, the bank account I’ve got for the business is with Natwest Bank due to opening the account with a poor credit rating they only given me a basic business account which doesn’t have the facility for an overdraft or able to apply for a loan. I did try with the bank but said it wasn’t possible without upgrading my account which I tried but was turned down due to my credit score again.

I have tried other Loan companies but they all use a credit score to determine if your accepted or not. Not the profit which the company is making in profit per month.

So why don't you start ICO for collecting money?

[jackg]

Hi Coinmarble,

Thank you for the very good question, the bank account I’ve got for the business is with Natwest Bank due to opening the account with a poor credit rating they only given me a basic business account which doesn’t have the facility for an overdraft or able to apply for a loan. I did try with the bank but said it wasn’t possible without upgrading my account which I tried but was turned down due to my credit score again.

I have tried other Loan companies but they all use a credit score to determine if your accepted or not. Not the profit which the company is making in profit per month.

So why don't you start ICO for collecting money?

No.

There are a lot of ICOs already and they take time to plan and program. OP suggests he can gather the funds within a few months to pay back the loan.

Meanwhile, this is irrelevant as I've already funded him with a solicitor taking his company as collateral.

[Kivalar]

Hi Coinmarble,

Thank you for the very good question, the bank account I’ve got for the business is with Natwest Bank due to opening the account with a poor credit rating they only given me a basic business account which doesn’t have the facility for an overdraft or able to apply for a loan. I did try with the bank but said it wasn’t possible without upgrading my account which I tried but was turned down due to my credit score again.

I have tried other Loan companies but they all use a credit score to determine if your accepted or not. Not the profit which the company is making in profit per month.

So why don't you start ICO for collecting money?

No.

There are a lot of ICOs already and they take time to plan and program. OP suggests he can gather the funds within a few months to pay back the loan.

Meanwhile, this is irrelevant as I've already funded him with a solicitor taking his company as collateral.

oh...I got it