Topic: Loan for healthcare certification business (new equipment) 200%+ collateral (Read 436 times)

http://www.entrepreneur.com/encyclopedia/factoring

Above is a pretty good explanation as to what factoring is. It is basically the sale of your accounts receivables which is very similar to using your inventory as collateral for a loan.

I would somewhat doubt that any/many lenders on here would have the means to be able to sell your collateral quickly in the event of a default

I'm not familiar with the other user you mention, however, I'm sure there are all types of scammers on these boards.  I figured I'd ask here, because I'm familiar with bitcoin (its always been an interest of mine) and there isn't an incredible amount of risk involved with this small of a loan in terms of bitcoin value volatility. Wanted to be a part of the community and be one of the borrowers not trying to scam people out of their money. It takes work to make honest money, and I intend to do that.

I'm not familiar with the other type of borrowing you spoke of and until I can familiarize myself with it I think I'll stick to the rivers and the lakes that I'm used to.

Thanks for your advice, though. I intend to look into it.

-Ryan

This sounds very similar to what another very "new" user had offered as collateral for a loan. IIRC, they had offered to have a warehouse "revert" ownership of a bunch of merchandise in the event of a default.

I have honestly not closely examined your entire post (for good reason), however assuming that your above claim is true, then you would likely be much better off pursuing financing through a factoring company as you would almost certainly get better terms/rates if you were to act honestly. Plus you would not be subject to the risks that the price of bitcoin were to turn against your favor, resulting in you owing substantially more money then you originally borrowed.

Now let me begin by saying that the collateral I have to offer are physical goods. Namely designer shoes, clothes, and other various things, but I know you guys like collateral to be easier to handle such as cryptocurrencies. Unfortunately, I'm not in possession of any of those.  I also know that I'm a new member here.  I can understand if you click the back button now.   But, for those of you with an appetite for risk, but also reward, please hear me out.

I have several pricey items that I'd be willing to put up as collateral with an escrow service of both of our liking (you name them ideally, as long as they have a report then I'm good) and I will do all of the legwork necessary to facilitate it for you.  After all, I'm the one here asking for money, it's my job to make you feel as if the risk is worth it.

Now, I'm asking for this loan in order to obtain much needed new equipment for a new facility that my business has recently opened. We offer certification courses through the American Heart Association to train and update namely healthcare professionals (from EMTs to Doctors) in various levels of life support and resuscitation.  Our bread and butter courses are Basic Life Support (BLS) which is basically CPR, Advanced Cardiac Life Support (ACLS) which is the next level that builds upon BLS and introduces drugs, manual defibrillation, and things of that nature (CLEAR! ), as well as Pediatric Advanced Life Support (PALS), which is essentially ACLS for the little people we hate to see need it.

All of our customers require re-certification every two years, but sometimes the courses can be quite cumbersome and difficult to attend.  We pride ourselves on going above and beyond for them. We have found success in bringing the courses closer to our customers, thus the need for additional facilities across the metro Atlanta area.

We opened our doors in 2012 with an initial $5,000 loan from a family friend and managed to have it completely paid back within 6 months.  We haven't had a need for any additional funding since then, but now we've determined that it's worth the cost to ask for a capital infusion, no matter the size, because our customers have asked us to spread it out.  We currently have 4 instructors and 3 facilities and two of our instructors are using equipment that probably were used to teach my parents their skills. It may be a testament to the quality of the items, but to someone coming in for their first class with us, I don't imagine it inspires a "high-quality" course, which is what we always intend to provide.

So, now to the nitty gritty.  I'd like to be able to borrow 0.8 btc or roughly $200 as this would provide both instructors with a new CPR dummy with feedback (clicking sound which indicates appropriate depth of compression and an LED that indicates an appropriate compression rate).  This would go a long long way in improving our service for our customers.  Poor Dead Fred (one of our dummies) is looking a little worse for the wear these days and I don't imagine he inspires many people.

However, I'm going to ask for 0.4btc to focus on obtaining just one CPR dummy for now.  And I'd be willing to put up 200% or more in collateral in order to convince one of you to assist us in this endeavor.

Now I know you're probably asking: why is it that we cannot find the money for this?  Do we not handle our finances well?  Well, yes, we do, in fact we do have a cash cushion, but since it's main purpose is in case of emergency, we thought it prudent to seek outside help in order to keep that fund intact.  My partner and I bootstrapped this business from the ground up and we haven't exactly struck it rich, but we believe in what we do and what it provides for everyone one day.

Our newest facility has been open for 2 months now and sales/revenue are up 20%, which isn't a bad start.  However, the overhead of the new facility has been keeping our capital rather illiquid.  That is to be expected with any business, though, in the beginning.

So, without typing out a book for you guys I'd like to get a loan of 0.4btc at a reasonable rate to be paid back within 60 days.  I wanted to say 30 days, but better safe than sorry.  First impressions are everything.

I have some Allen Edmonds Cap Toe Oxford strands that my father gave me not too long ago for my work with the business.  They are incredibly nice and well beyond my means, but priorities are exactly that. They retail for $389 and mine are a couple of months old with barely any wear. I'm putting their value at $150.  I also have some raw denim Naked and Famous Jeans (indigo selvedge) with the tags still on. Size 34.  Those go for around $135 retail, I'm placing their value at a solid $80.  If you know anything about denim (the best fabric for my American body), you'd know that these are high quality Japanese hand made denim.  They're awesome.

So, that's what I have as collateral as well as some other things as well. Feel free to look through them here: http://www.grailed.com/users/myitems/53358-ryan-maynard

I appreciate your time and attention and look forward to doing business with you. Feel free to ask any questions or inquire about specifics.

-Ryan