Short term bridge loan offered at BTCJam (I am the borrower, not the lender)

[slu2]

Description

We were just approved for a hard money loan, and the loan closes on October 31st.

We need a bridge loan to continue building out our shop  (ref;  www.clovisstar.com )
We are starting a bitcoin based retail store in the heart of the shopping district in Pocatello Idaho.  We are next to Walmart, TJ Maxx, IHOP, JC Penny and other big box stores.   We want to rep Bitcoin properly!

This loan is to fund the purchase of our CoinKite Point of Sale Terminal to accept Bitcoin, Litecoin and Darkcoin

 

We already have a Project Skyhook ATM.   We also want to have a conveinent Point of Sale system to offer our customers the option of easily paying with coin.


http://youtu.be/x8msrampPFM



We have started a newspaper, which you can see that were are vigorously promoting bitcoin and alternative economies.

Ref;  https://www.clovisstar.com/the-clovis-star-quarterly/



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>> Loan Purpose
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To buy a terminal for accepting coin at our business from Coinkite
https://coinkite.com/
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>> Security & Contingency Plan
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We have been approved for a loan on our house via a conventional lender, but the loan doesn't close until October 31st.   We will pay the coin loan back when we get our equity loan.   We have money coming in from various sources as a backup plan.  But the loan has already been approved.

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>> Q&A
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-  To purchase a coinkit point of sale terminal for our retail business that is opening on October 20th.
You can see our progress at:   4100 Yellowstone Ave., Pocatello Idaho.  Or check on our website as we make progress.   www.clovisstar.com

-How long do you need the loan?
I need 30 days or less.
- Why is the price linked to USD?
I don't mean to break bitcoin loyalty or anything, but I think that the USD poses a more steady value to be held for a longer term loan like this.
- Do you have contact information?
Besides what I am allowed to verifiy on BTCJam, I also have this token from ardeva.com, which I am in the process of verifying more information now.

https://ardeva.com/verify/A5432223F02A1C1A15960774

You can contact me directly through my website however, or admin@clovisstar.com

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>> Payment Terms
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I will repay the loan in full on November 5th 2014.  This is a 30 day term, but I only need the loan until November 5th.
See the terms set out by BTCJAM



https://btcjam.com/listings/25405-bridge-loan-for-our-business---short-term

[Argwai96]

By advice is to wait for your mortgage to fund. If no one will lend to you before, they will likely not lend to you now, while you are waiting on your "bank loan" to "fund" as you are considered to be too high a risk.

Also most banks will decline your loan in the event that you end up taking on additional credit within 90 days of applying for a mortgage as they do not like people stacking loans (they have no guarantee that you will use the proceeds to repay this loan and you would still have the liability)

EDIT: I am sorry that your short term "reputation" loans were not enough to buy trust within the community, however people here are much smarter then that

[slu2]

By advice is to wait for your mortgage to fund. If no one will lend to you before, they will likely not lend to you now, while you are waiting on your "bank loan" to "fund" as you are considered to be too high a risk.

Also most banks will decline your loan in the event that you end up taking on additional credit within 90 days of applying for a mortgage as they do not like people stacking loans (they have no guarantee that you will use the proceeds to repay this loan and you would still have the liability)

EDIT: I am sorry that your short term "reputation" loans were not enough to buy trust within the community, however people here are much smarter then that

You're skepticism is interesting.   So do you often invest in loans?  Or are you just on the side lines to be a wet towel?

I have an A rating, and I have identified myself rather well with my face, business location, and identity.  
I have been on Paypal for 7 years, Ebay for over 12 years, and all of my other identifying information is available.
In fact, if anyone had the notion to come meet me, before funding me, I have given my business address of;  4100 Yellowstone Ave, Suite B, Pocatello Idaho.

So again, I am just interested in if you fund loans, or if you are similar to Vod you doesn't seem to fund anything, or be concerned about his investments.  Rather, just a beacon of "hey don't fund that guy".   I think he does it to everyone.   But I am not sure why.

The Bitcoin community will either succeed or fail based upon cooperation.
I have given my all to this community.    I think I may be one of two locations in the entire state of Idaho that offers a Bitcoin ATM to the public.

If I am not a legit investment with an A rating, and everything identified about me.   Then I can't imagine anyone being a legit investment.

[slu2]

BTW-  We have 14 people invested and we are 9% there.   It's not where I need to be, but Im getting closer!

So far on BTCJam I have been paid back over 1 BTC.   I am impressed with most of the community.     I got burned twice on loans each of 0.2, but the proceeds that I have made from my other loans, have well made up for my losses.

I don't think everyone is retard that is involved with BTC investing.   But there are a few idiots out there for sure.

As far as giving me lending "advice", Argwai96.   Unless you are my lender, don't worry about it.  I have more than enough collateral in the lender's hands that would pay for my little tiny loan 6 times over.   

[slu2]

Thanks to everyone who came through on this loan!   This puts our business setup in a stronger position.
Our business is sure to raise positive awareness to the Bitcoin economy and give an access point for a bitcoin ATM.
All of our products are available for bitcoin.   Come in and visit us!

4100 Yellowstone Ave., Pocatello Idaho 83202   (Suite B)


Cheers!

[slu2]

Also, if anyone wants to purchase our 5 plex, before our loan closes, I can give a 7% discount and I can accept coin.
If someone purchases our property before the loan closes, it saves us a ton of money by not having to take the loan.
(see my signature for more details)

This property has been improved a lot since we bought it this Spring, and it is an easy absentee owner property because I have property management involved and they run this place 100%.

After I take the loan, it will be more difficult to accept coin also, because right now I have no bank involved, and accepting crypto as payment is much easier now than later.

Anyway, I am blessed an I am grateful.  Thanks crypto-community!  Looking forward to paying this loan back early.

[slu2]

Ok I just purchased the coin at coinbase to repay this loan.

Coinbase sent an email that said  "Your bitcoin will arrive by the end of day on Wednesday Nov 26, 2014."

This loan will be repaid sometime between now and November 26th. 

I will be offering a new loan opportunity for investors. We have been able to open our store, and we even just got a remodel finished.  We build a 'clean room' for mixing eliquids, we repainted.  And we ordered a ton of new gear to sell in our store.   But we are still coming up short on buying the sign for this place. 

So I am going to offer a new loan opportunity, the amount will be 10 BTC, and the term is 7% interest, for 90 days. 

Shortly after I pay off the loan that I have out, I will be posting this new loan opportunity. 


Come see our store at;   4100 Yellowstone Ave.  Suite B, Pocatello Idaho 83202


http://clovisstar.com     


(pay in bitcoin and get a 10% discount with coupon:  bitcointalk)

[slu2]

So the very next day after posting that I would be buying these coins to repay the loan, my BTC-e.com account got hacked.

No fucking shit!

So I am selling my truck now to repay this.   I am also trying to sell my 60MH/s ASIC Scrypt miner.  I also have a Project Skyhook Bitcoin ATM for sale.

Scrypt miner =  4 BTC
Bitcoin ATM =  2.5 BTC
2001 Chevy Tahoe, LOADED  (low pro tires/rims, exhaust and intake upgrades, killa system, etc)   =  12 BTC

I have 2.73 BTC towards the goal.   I had 4.73 until my BTC-E.com account got hacked.

But I went to BTCJam.com this morning to try to figure out a way to make that partial payment of 2.73 BTC, but BTCJAM currently has a server error (500)

Ref;   http://s28.postimg.org/9xg1qrqss/btcjam_500error.jpg

This is what happened with my BTC-E account.   Im still not sure how this happened; 
https://bitcointalk.org/index.php?topic=872036.msg9649672#msg9649672

But despite having other pending bills, I will round up the coin for this, and pay this loan off.


We are really trying to make our business work,  www.clovisstar.com     So if you are in Pocatello Idaho, please stop by and enjoy 10% discounts for paying with BTC

[slu2]

Loan has been repaid.  I am sorry for the late pay.   I described the problem with the delayed repay here;

https://bitcointalk.org/index.php?topic=907216.0

Thank you all very much for this loan!   I may use the bitcoinlendingclub some day in the future for a business expansion.   But BTCJAM has been a success so far.    You can also read my review of this loan, and the process at the link above.

[kingscrown]

i woulda invested into you!

[slu2]

i woulda invested into you!

I appreciate the confidence!   So far our business is exceeding our expectations.  We have assets, but very little liquid right now.  So we started on sort of a shoe-string budget.  But we have a prime location, great customer base, and a nice political soap box!   

I have intended on getting a Coinkite POS system, but there has not been a lot of demand for bitcoin purchases so far.   But, of course that is part of why we are here!  We love educating people on bitcoin!

I will share our next newspaper edition here, with a polished article on this bitcoin lending success story. 

Thanks!