Business Investment 2.43BTC - United Kingdom.

[Grantuk85]

Good Morning,

First of all I am new but please don't let this put you off.

Let me start with the amount and return.

Contact: Sales@primednready.co.uk

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 Months or 24 Weeks
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 business has been trading since the start of 2017, in Liverpool (UK). Turn over per month is around £50,000 (Bank Statements can be provided)

The reason I am asking for this Loan is I've got a new contract with the NHS repairing the fleet vehicles with a minimum of 4 per week taking on this contract I've needed to buy a new Spraybooth and a few more bits of equipment. In total it will be £40,000 investment but I am currently short half which is what the loan will be for.

I've tried to get a loan with the Bank but they are unable to lend to myself, as I've not got a very good credit rating. I am currently in talks with an Angel Investor but the process is taking longer than I've got to secure the funds if the angel investor decides to invest I will be willing to pay the Loan back straight away plus any interest. If not then I would be happy to pay back over 12 months or 24 weeks I will also guarantee if Bitcoin falls below the amount at which the loan was taken that the current rate will be paid back.

The contract is to start on the 29th Jan 2018 so would need someone in the United Kingdom pref the North West. Happy to accept from other countries but with the type of Loan I do not think it would be the right type of loan for someone to invest.

Any questions or if I've missed anything out, please feel free to ask.

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[Grantuk85]

I would be happy to split the investment with a number of different people if that’s better than investing the full amount.

[ThatRandom8543]

Good Morning,

First of all I am new but please don't let this put you off.

Let me start with the amount and return.

Contact: Sales@primednready.co.uk

Loan Amount: 2.43 BTC or £20,000 depending on current value.
Repayment: 5% Per Month
Bitcoin Address: Will update when home - Currently on works PC.
Number of days: 12 Months or 24 Weeks
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 business has been trading since the start of 2017, in Liverpool (UK). Turn over per month is around £50,000 (Bank Statements can be provided)

The reason I am asking for this Loan is I've got a new contract with the NHS repairing the fleet vehicles with a minimum of 4 per week taking on this contract I've needed to buy a new Spraybooth and a few more bits of equipment. In total it will be £40,000 investment but I am currently short half which is what the loan will be for.

I've tried to get a loan with the Bank but they are unable to lend to myself, as I've not got a very good credit rating. I am currently in talks with an Angel Investor but the process is taking longer than I've got to secure the funds if the angel investor decides to invest I will be willing to pay the Loan back straight away plus any interest. If not then I would be happy to pay back over 12 months or 24 weeks I will also guarantee if Bitcoin falls below the amount at which the loan was taken that the current rate will be paid back.

The contract is to start on the 29th Jan 2018 so would need someone in the United Kingdom pref the North West. Happy to accept from other countries but with the type of Loan I do not think it would be the right type of loan for someone to invest.

Any questions or if I've missed anything out, please feel free to ask.

The business shares would be useless since they have no value (if its a public company that *might* be different but since youre in talks with an angel investor, it does show your business isnt public), and no one wants to go after you personally if you go out of business after getting the loan. Cost to much money. A spray booth, like you said, would have to be done locally, but why come here exactly? If you need a loan so badly, why not talk to an investor about doing a venture debt?

[Grantuk85]

Thanks for your reply.

I was searching on google about Bitcoin Peer to Peer loans. I noticed that this site has a lending option as well - yes it’s a Limited Company.


I tried to get a venture loan on the asset of the spraybooth I already own, but every company I’ve searched/spoken to Use a credit rating instead of looking at the profit from the company.

Would be happy to keep an investor to earn a share of the profits when the loan has been repaid.

[Parodium]

You mention turnover is ~£50,000 per month, how much of this is profit, and how many months has the business been operating?

I may consider funding this loan.

[Grantuk85]

Hi Parodium,

Profit per week is 3k around 12k per month but in December 2017 profits were 16k. Started trading 5 years ago but only been a limited company since Jan 2017 since we moved premises and registered for VAT. Also with the new contract with the NHS we will have a minimum of 4 extra vehicles per week increasing profits more.


If you wish to see accounts/bank statements can provide these if needed.

[CoinMarble]

Profit per week is 3k around 12k per month but in December 2017 profits were 16k. Started trading 5 years ago but only been a limited company since Jan 2017 since we moved premises and registered for VAT. Also with the new contract with the NHS we will have a minimum of 4 extra vehicles per week increasing profits more.

Hi Grantuk85, sorry to interrupt your conversations.
I just wonder, if your business could generate almost 10k profit a month, why the bank could not lend you 20k, for a very low interest rate compared to the loan here?

This is just doesn't make sense in the business world. Any explanation for that?
Thanks.

[Grantuk85]

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.

[monbux]

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.

Ask your friends and family. Since this sounds like a "sure thing", I have no doubt some of your relatives would love to chip in to make a quick buck.

[ThatRandom8543]

If youre making such a large profit but get turned down by banks, then something is wrong, imo. Most banks that offer business accounts can overlook personal credit history if your business is doing extremely well. Have you thought about applying for a loan from another bank?

Also, if you do not mind me asking, why is your credit score poor? Could you also provide your business name that is currently registered?

[warningsigns]

Poor credit scores are usually an indicator of mismanaged finances and a lack of financial responsibility. This is a risk factor. While I appreciate the open and honest disclosure of this information on this thread (which speaks in your favor) the risk of lending on the strength of private equity assets outweighs the positive aspects of your loan proposal.

A bad credit rating is also a warning sign of past repayment issues which of course will affect how lenders feel about entrusting you with a loan. Because of this risk factor, they will want valid and solid collateral.

This is not to judge you unfairly. I know nothing about the cause of your bad credit score so it would be wrong of me to assume or presume anything about your integrity. I’m just commenting here based on a general sense of how bad credit affects a lender’s impression about borrowers, particularly if large amounts are being discussed.

[Grantuk85]

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.

Ask your friends and family. Since this sounds like a "sure thing", I have no doubt some of your relatives would love to chip in to make a quick buck.

Not really got much family, my Mum and Dad are older now so isn't possible for them to get a loan or borrow against their house. I've asked Friends but due to being 32 everyone is getting married, having kids and settling down so do not really have much spare cash available. I honestly wish it was that simple to borrow the funds its really frustrating that I can prove my income but still be turned down for a loan.

[Grantuk85]

If youre making such a large profit but get turned down by banks, then something is wrong, imo. Most banks that offer business accounts can overlook personal credit history if your business is doing extremely well. Have you thought about applying for a loan from another bank?

Also, if you do not mind me asking, why is your credit score poor? Could you also provide your business name that is currently registered?

Hi ThatRandom8543,

Yes, I've tried with the bank I've got the Business account with and also tried my personal back which is Barclays. Both were turned down due to credit rating which I wouldn't say is really bad, no missed payments.
I've got an amigo loan from 3 years ago which my Mother is a guarantor on so I could build my credit rating its currently got £538.87 left to pay at £200.09 per month. Apart from that Loan I do not currently have any other credit lines. I've got the usual BT Phone Line/Broadband, Phone Contract but that is paid monthly on time.

The only reason I can think my credit score is low is lack of credit, and when I was a teenager in college 14 years ago Phones4U use to give cash back on mobile phone contracts so I use to take one our per week and never pay them. Learnt from that mistake and paid them off when I finished college and started working full time. I also wasn't on the Electoll Roll at my currently address which I changed before Christmas which should show on my next credit report.

The funny thing is I've applied for a mortgage and been accepted, which will be complete at the end of Feb which was my last resort of security as I've only applied for 63% equity but with it being passed the deadline of the 29th I couldn't afford to wait that long, as I will need to install the spray booth before the Vehicles are delivered next week.

Yes my Business name is ABC CAR CARE CENTRE LTD company house number; 10544504.

[Grantuk85]

Poor credit scores are usually an indicator of mismanaged finances and a lack of financial responsibility. This is a risk factor. While I appreciate the open and honest disclosure of this information on this thread (which speaks in your favor) the risk of lending on the strength of private equity assets outweighs the positive aspects of your loan proposal.

A bad credit rating is also a warning sign of past repayment issues which of course will affect how lenders feel about entrusting you with a loan. Because of this risk factor, they will want valid and solid collateral.

This is not to judge you unfairly. I know nothing about the cause of your bad credit score so it would be wrong of me to assume or presume anything about your integrity. I’m just commenting here based on a general sense of how bad credit affects a lender’s impression about borrowers, particularly if large amounts are being discussed.

Hi warningsigns,

Thank you for your comment and I appreciate your input. I've commented above regarding my credit score and the reason behind it being so low.

Understand about the valid and solid collateral, The meaning behind me putting up the Spray booth as its currently my biggest asset along side the other spray booth I would be purchasing with the Loan without them I wouldn't be able to work or earn a living if they were sold due to me not paying back the loan. I wouldn't be able to support my family or pay any bills which isn't an option I know these are just words to other people but I just wouldn't risk losing everything.

[ferall]

Why not go into your branch and speak to the manager? They can pull up your accounts and see your profits. Perhaps they can make a decision.

[Grantuk85]

Why not go into your branch and speak to the manager? They can pull up your accounts and see your profits. Perhaps they can make a decision.

Hi Ferall,

I tried that with the bank, but it isn’t possible to apply for a loan with then type of account they gave me. I would need to change the accounts to a business current account but they won’t allow me to have one. So stuck between a rock and a hard place.

I’ve only got until Thursday or I’ll just have to cancel the contract with the NHS for there to be enough time to install the new spraybooth.

[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

[Parodium]

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.

[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.

[jackg]

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.