Topic: Seeking 30-100 BTC loan 12 months 10% interest, good credit and high income - page 2. (Read 1847 times)

As indicated, I am looking for loan of 30-100 BTC, which I would need in the next month, but the sooner the better.

I am upgrading my hashers very substantially (currently I have a little over 3 Th/s; will increase to 9 Gh/s in May; and 16 Th/s by the end of August with miners already paid for... I am also seeking to get that up higher to fill out two racks I have at a data center).  I will use the funds to (1) re-finance/fund the already paid for miners (money borrowed from my corporate account, wholly owned corp but I really should put money back in), and (2) to buy new miners.

This is a very low risk loan, and I will provide the lender with sufficient documentation to prove that statement.  I have more than enough income to just buy the equipment with fiat, and I have over 100K in available credit just on my credit cards.  My credit score varies between 675 and the low 700s (a few late payments over several years but not many, and a couple of medical bill disputes but nothing else).

So why am I seeking a loan with all that cash and credit available to me?  I have very good reasons, but would prefer to discuss privately.  For someone who is serious and willing and able to lend at this level, I **will** verify my employment (long term, very stable, high income), income and provide you with a credit report.  And I will disclose my reasons so you will know I am not doing anything illegal. 

BASIC TERMS (open to any reasonable alternatives):

Payment to me must be in BTC

I am willing to agree to repay in BTC (preferred) OR will repay in U.S. dollars or Euros, lender's choice

If repayments are in fiat, will use preev 7 day trailing average of the buy/sell price average, as of payment due date as conversion rate (or other determinable and reliable conversion is okay)

I will sign a promissory note using a standard form

10% annualized interest, compounded daily on basis of 365 days (I would also accept a variable interest rate that equals 10% today)

If repayment in fiat:
first payment due in 6 months will include accrued interest for 6 months, plus 1/6 of principal.
Thereafter, payments of 1/6 of principal plus accrued interest for one month will be due each month

If repayment in BTC:
first payment due one month after funding, and will include 1/12 of principal plus interest for month
I am willing to agree to point 50% of my mining (once I receive rigs and have them up and running obviously) to the repayment address so that the mining goes directly to repayment; however, interest calculation under this scheme would be kind of hard and we would need some kind of program to keep track of BTC rates, mining profits paid and interest accrued daily .. probably more trouble than its worth but thought I would throw out the idea.

Thus repayment term total is 12 months

If payment is not made within 5 days of due date, interest added to principal plus an additional late fee of 0.01 BTC per day, in addition to accruing interest on the higher principal balance
2 late payments in a row, or 3 late payments over the life of the loan, will be a default and all funds will be due then immediately (principal and interest and late fees).  Default interest rate will be 20% annualized thereafter, and lender will be entitled to attorneys fees if required to collect (believe me it won't be required and I can prove it, but these are pretty standard commercial terms and I want lender to know I am not looking for a better than market terms ..)