You are not asking for a SBA loan. You are asking for a loan that will be given in a way such that it will be very difficult to force you to pay the lender back. It is not a guarantee that the ID documents provided to BTC jam are yours nor is it a guarantee that the other various accounts you used to 'verify' your identity were not purchased/stolen/hacked.
Even if the identity information does belong to you it is not cost efficient for lenders to go after you in court in the event you do not pay as most lenders only lend a very small amount. The result is that the only real consequence to you not paying your loan will be that a bunch of people who will never meet you will know that you are a deadbeat.
The most common form of equity that a business owner will have will be in the form of assets, either inventory (as mentioned above) or assets that help you produce income (a taxi for example if you own a taxi service) or assets that help you produce your product (like a factory). Owner's of a small business very rarely have equity in the form of cash.
If you are so willing to use the SBA as an argument as to why you should get this loan then I would suggest going to the SBA to apply for a loan from them.
I used the SBA structure as a compatible scenario is all. I am trying to explain why giving away my operating capital to be held by the lender, to get a loan is counter productive is all, and this is a reason why it doesn't make sense for banks to penalize someone with operating capital. People don't just get loans so that they can pay interest on what they already have. I've never saw a loan work that way.
But I prefer coin. As I stated, one of the major operating points in our business is our Bitcoin ATM.
I have been buying and selling properties with Bitcoin and Litecoin for years. My business is a Bitcoin base business. So getting a bitcoin loan seems more fitting than a fiat loan.
If you look at my signature I am selling my 4 plex for coin as well.
As for verifying my identity. Show me ANYONE here who has done more to verify their identity.
How many people have video recorded themselves at their place of employment? How many have video recorded themselves at all?
How many have gotten verified at multiple different sources? BTCJam verification is a little lenient, but ardveda is not. Where I pay a $1 with my credit card, then look on my bank statements for a special code and verify it. Send my ID, and video record myself with the ID. Mailings to my home address, etc. I mean ya it could possibly be faked, but it would be awfully difficult.
One guy on here has called and verified with my neighbors near my business, so far he has called two of them.
I doubt anyone here has done more than me to verify their identity.
But you are right about it being difficult for someone to pursue legal action over $5000 worth of coin, or $5000 worth of anything.
It's a pretty tiny amount.
If people don't feel comfortable with what I have offered. If people don't want to take collateral that I have offered for the loan. If it over all just doesn't seem worth it, for whatever reason. Well, then they will move on to something else that is worth their time.
But I have done my best to make this secure and beneficial for everyone. Vod keeps insisting on offering collateral. I have offered MUCH collateral. I think it is a very useful invention for someone to create a surefire way of offering coin loans on titles, and there is a demand out there as I have demonstrated in my past posts.
The collateral you are offering is title to vehicles and most people on here have zero experience repoing a vehicle nor do they understand the costs and risks associated with accepting a vehicle (title) as collateral. If people do not understand the risks and costs associated with something they will not get involved in it.
You are incorrect to say that it does not make sense for a person to go after you for $5,000 as this is not true. If you owe someone $5,000 your case would probably not even be eligible for small claims court. Credit card companies, and other lenders will routinely go after deadbeats for this amount and less. The problem is that you are not borrowing $5,000 from someone. You are borrowing much smaller amounts from several people that will add up to $5,000. There is no efficient way for all these lenders to act as a group to attempt to recover their money. As of ~a hour ago, the most someone has offered to lend you is .1
BTC which is worth roughly $40, this is an amount that would certainly not be worth going after someone for.
Even if your identity is in fact yours, it does not mean anything as the identity of a dead beat is worth very little to anyone.
Vod keeps insisting on offering collateral. I have offered MUCH collateral. I think it is a very useful invention for someone to create a surefire way of offering coin loans on titles, and there is a demand out there as I have demonstrated in my past posts.
I think your collateral offerings have been lost in the slew of posts. It might be best if you create a new thread, list what you want and list your collateral exactly, keeping in mind what is and is not proper. Collateral must be in-hand.
I will even offer to hold your LTC (I charge a 1% escrow fee) and then I can state that you have so much in collateral. Then you can get your loan and still keep your LTC.
I think he wants to keep his LTC in his possession/control instead of giving it to an escrow/risking that it be lost in the event he defaults
