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Topic: Looking for a loan ASAP (Read 238 times)

hero member
Activity: 2128
Merit: 532
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August 22, 2021, 05:21:05 AM
#14

(and no, I'm not offering to give you a loan - I don't even know what "CBD" oil is...)

It's hashish oil, or marijuana oil. Mainly used in smoking, ointment, cooking, etc...
copper member
Activity: 2380
Merit: 1302
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August 22, 2021, 01:06:31 AM
#13
If (this is not an offer) I were to lend money based on business inventory I would only lend 80% of the wholesale value, not retail.  Most lenders don't want to get in the business of selling your inventory, and that way you have an incentive to repay the loan.
As the retail price is above 2000$, I think it will be enough for you to approve the loan as whole sell price will be more than the required amount of you. But I think it will be too much risky, there might happen the issue of date of expiry, the value of the product might be over valued and there might have happen many more thing. So, think twice before approval.
legendary
Activity: 3696
Merit: 2219
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August 04, 2021, 04:42:19 AM
#12
how is shipping my whole inventory not considered collateral?

I don't suppose you'd be able to offer up any kind of "proof of purchase" for the item you're offering up as collateral, otherwise people here might be inclinded to suppose they are "tainted" property (yep, that means stolen).

(and no, I'm not offering to give you a loan - I don't even know what "CBD" oil is...)
legendary
Activity: 1148
Merit: 3117
August 03, 2021, 04:16:46 PM
#11
if he has trouble selling those goods quickly and comes up with cash, why would any lender take this good as collateral so that they later have the trouble to sell it and return the loaned money?
That's a valid point. If I were to accept this as a collateral for sure that I would have to either already have a physical/online business where I could easily place them to sell (which I believe the odds are low here) or I just know some guys that could really buy this product from me (again, odds could be low considering the product at hand).
legendary
Activity: 3472
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August 03, 2021, 04:11:18 PM
#10
OP, you did not write here from where you are?
have you calculated how much shipping can cost and how much it all makes the whole deal more expensive?

Why not just sell your items instead offering them as collateral?
Due to his need of cash in a rather quick way, he wouldn't be able to match his needs vs selling all of his items within the time that he needs the money (at least that's what I interpret from his post).


if he has trouble selling those goods quickly and comes up with cash, why would any lender take this good as collateral so that they later have the trouble to sell it and return the loaned money?
legendary
Activity: 1148
Merit: 3117
August 03, 2021, 12:23:31 PM
#9
Im pretty sure if he sell it with a discount to an other reseller he would find one fast enough. In the end he would make the same loss like with loan fees.
Well that is true, but I guess OP may have a limited/scarce/none available interested people in his area and the cost that he would have to endure to actually sell those products elsewhere (locally/near him) makes him preferring to just sell them to whoever accepts them as a collateral. Still, if OP thinks with the right mindset, I'm sure that setting up a sell post in either Facebook or Facebook Groups is always a good channel to gather attention for these kind of products.
member
Activity: 237
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August 02, 2021, 06:41:45 PM
#8
Why not just sell your items instead offering them as collateral?
Due to his need of cash in a rather quick way, he wouldn't be able to match his needs vs selling all of his items within the time that he needs the money (at least that's what I interpret from his post).

OP from my point of view, provided that you are able to post pictures where you show that you are the owner of those products, I wouldn't see it as a bad thing to accept as a collateral (provided that you find someone who would be willing to take them). What I would recommend that you could start doing is already posting some pictures so that any member who may be interested in the offer may instantly see your products and jump right into the discussion if suitable for him / her.

Granted, those items are geared towards a certain niche and the lender may be reluctant to accept them at the stated price because, like DireWolfM14 has said, he would have to either sell them to someone who would actually want them because they aren't as liquid as say, for example, other kind of crypto / fiat. As a suggestion while you're struggling, have you tried to go to stores in your area (or nearby) that sell those products? Even selling at a slightly lower cost there must be business that are looking for those same products.

Im pretty sure if he sell it with a discount to an other reseller he would find one fast enough. In the end he would make the same loss like with loan fees.
legendary
Activity: 1148
Merit: 3117
August 02, 2021, 04:34:33 PM
#7
Why not just sell your items instead offering them as collateral?
Due to his need of cash in a rather quick way, he wouldn't be able to match his needs vs selling all of his items within the time that he needs the money (at least that's what I interpret from his post).

OP from my point of view, provided that you are able to post pictures where you show that you are the owner of those products, I wouldn't see it as a bad thing to accept as a collateral (provided that you find someone who would be willing to take them). What I would recommend that you could start doing is already posting some pictures so that any member who may be interested in the offer may instantly see your products and jump right into the discussion if suitable for him / her.

Granted, those items are geared towards a certain niche and the lender may be reluctant to accept them at the stated price because, like DireWolfM14 has said, he would have to either sell them to someone who would actually want them because they aren't as liquid as say, for example, other kind of crypto / fiat. As a suggestion while you're struggling, have you tried to go to stores in your area (or nearby) that sell those products? Even selling at a slightly lower cost there must be business that are looking for those same products.
member
Activity: 237
Merit: 19
August 02, 2021, 01:38:47 PM
#6
Why not just sell your items instead offering them as collateral?
legendary
Activity: 3038
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August 02, 2021, 05:00:57 AM
#5
Looking for someone that can at least loan a $1000. Yes I know its a lot and I am new.

New or not, if you provide the proper and valid collateral, you shouldn't have to worry at all.

What i have for collateral is what was supposed to be my pop up CBD business.

So you run a CBD business only with oils? Very strange...

10x 500mg bottles of CBD oil Retail ($30 a piece)
15x 1000mg bottles of CBD oil Retail ($50 a piece)
15x 20000mg bottles of CBD oil ($75 a piece)
Total retail value is $,2175

Can provide picture proof of the bottles and also willing to ship them to you first before you send me the loan as long as you are trusted user.

That's retail prices (and quite expensive I must say), nothing to do with the correct/ wholesale price that you "get" them. DW14 already said the same but it was too kind to offer you 80% for this kind of items. Plus, that you might be made a mistake about the 20k mg bottles. If you can, then provide a picture of those bottles along with a note handwritten with your username and today's date.
copper member
Activity: 2338
Merit: 4543
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August 01, 2021, 02:32:08 PM
#4
Long story short I have ran into unforeseeable medical expenses. Looking for someone that can at least loan a $1000. Yes I know its a lot and I am new.
What i have for collateral is what was supposed to be my pop up CBD business.
I have the following inventory:

10x 500mg bottles of CBD oil Retail ($30 a piece)
15x 1000mg bottles of CBD oil Retail ($50 a piece)
15x 20000mg bottles of CBD oil ($75 a piece)
Total retail value is $,2175

Can provide picture proof of the bottles and also willing to ship them to you first before you send me the loan as long as you are trusted user.

If (this is not an offer) I were to lend money based on business inventory I would only lend 80% of the wholesale value, not retail.  Most lenders don't want to get in the business of selling your inventory, and that way you have an incentive to repay the loan.


The thing you are offering cant be a valid collateral for the forum members.

I disagree.  If a lender feels comfortable with physicals goods as collateral and verifies the value, it seems like a perfectly fine offer to me.
newbie
Activity: 4
Merit: 0
August 01, 2021, 02:03:10 PM
#3
how is shipping my whole inventory not considered collateral?
copper member
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August 01, 2021, 01:56:06 PM
#2
Long story short I have ran into unforeseeable medical expenses. Looking for someone that can at least loan a $1000. Yes I know its a lot and I am new.
What i have for collateral is what was supposed to be my pop up CBD business.
I have the following inventory:

10x 500mg bottles of CBD oil Retail ($30 a piece)
15x 1000mg bottles of CBD oil Retail ($50 a piece)
15x 20000mg bottles of CBD oil ($75 a piece)
Total retail value is $,2175

Can provide picture proof of the bottles and also willing to ship them to you first before you send me the loan as long as you are trusted user.
The thing you are offering cant be a valid collateral for the forum members. Better lock the thread ask a loan to someone who knows you. It can be told by anyone that no one will allow you virtually this type of loan base on this type of collateral. To send/receive it will take long time and to sell it not too easy. Also you may sell it on your area instead of taking a loan.
newbie
Activity: 4
Merit: 0
August 01, 2021, 01:42:17 PM
#1
Long story short I have ran into unforeseeable medical expenses. Looking for someone that can at least loan a $1000. Yes I know its a lot and I am new.
What i have for collateral is what was supposed to be my pop up CBD business.
I have the following inventory:

10x 500mg bottles of CBD oil Retail ($30 a piece)
15x 1000mg bottles of CBD oil Retail ($50 a piece)
15x 20000mg bottles of CBD oil ($75 a piece)
Total retail value is $,2175

Can provide picture proof of the bottles and also willing to ship them to you first before you send me the loan as long as you are trusted user.
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