Well, if you look at the old P2P loan platforms, you will see plenty of people took out loans in BTC,,, and then what happened next is they mostly defaulted. I think in the end people realized it was better to make 10 accounts and make small loans that people would think is high interest bearing. Then make a couple of payments and then disappear. Reputations did not matter since these were mainly fake accounts anyway.
Make a loan from a reputable company, then you are forced to make a proper business plan.
Topic: Loans for new start businesses (Read 190 times)
Your investment is capital from a loan which of course needs careful calculation, because the loan we have to pay the percentage of interest and whether this will be worth the profit to be obtained, where crypto has a volatile value and difficult to predict. I myself will start crypto by setting aside unused funds for long-term investments
No, I haven't done this before and never will because asking for a loan is a very risky move. What will you do just in case that the business you established fail and make losses in return instead of earnings? Where will you now pay that loan? The money you get from another loan? If you will not find a better solution than this then for sure your loans will branch off 'til your life suffer to a very deep debt.
Much better if you buy bitcoin, hold it and cash out when you already made a profit. Afterwards, use the profit as a capital on your dream business. By doing this, you will not only be protected against the pressure of having debt but let's you to feel more fulfillment as an individual
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Much better if you buy bitcoin, hold it and cash out when you already made a profit. Afterwards, use the profit as a capital on your dream business. By doing this, you will not only be protected against the pressure of having debt but let's you to feel more fulfillment as an individual
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Has anyone made a loan in Bitcoin to someone to start a conventional business? If so how did you organise it? for instance did you take shares in the business, a debenture etc? Did it work out well for both parties, and how long has the business been running now?
When it comes to personal experience i havent tried out to borrow bitcoins from my friends or any other person and not to be boastful i do have sufficient fund that can able to stand on my own but well you do tell other things on here for those people who do like to loan then you can try out first from your friends and on normal system on how to get a loan which you should have a valuable collateral which would be higher on the amount that you plan to borrow. Try out on this board https://bitcointalk.org/index.php?board=65.0 and observe on how things goes in there. Talk to a lender on the lending section and maybe you can get a deal and agreement.
Go here and find one that suits you.Lending
Do remind yourself to be cautious in lending, have a second thought if you find it that it's too good to be true.
And you should pick those who have a good reputation and history.
However, the amount you can lend is still depend on what your collateral is.
If you want to start a business then take consideration of building one through debt is going to be the starting burden of your business. Most of the business that would start with a debt is hard to survive unless its a corporation. Getting loans through to bitcoin as said by thatrandom needs a valid collateral which is more of the value of your loan amount. Talk to a lender on the lending section and maybe you can get a deal and agreement.
Has anyone made a loan in Bitcoin to someone to start a conventional business? If so how did you organise it? for instance did you take shares in the business, a debenture etc? Did it work out well for both parties, and how long has the business been running now?
People here would take valid collateral because shares or ownership in a business would be useless because the company would have little to no value.
Has anyone made a loan in Bitcoin to someone to start a conventional business? If so how did you organise it? for instance did you take shares in the business, a debenture etc? Did it work out well for both parties, and how long has the business been running now?
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