Need a start-up loan, will repay twice the amount borrowed.

**TheStylist** · 11-16-2009 05:31 PM

I am looking for a start-up business loan for $20,000 for a 5 year term. In 5 years I will repay the entire amount owed in full and another $20,000 instead of setting up a percentage or anything of that sort, this is the kind of agreement I am looking for. You lend me $20,000 for 5 year period, in 5 years I pay you back $40,000. We can write up a contract and secure the entire deal through a lawyer or however works best for you, that way you are 100% secure in receiving your money back.

**paul2145r** · 11-16-2009 06:44 PM

... This is your first post on here, and you provide ZERO details regarding who you are, what you're doing, and how you're going to pay the money back.

Besides, if you can't pay back $20k in less than five years, you shouldn't be trying to start up a business anyways. If you don't have the collateral or credit to borrow it from a bank, then the lender won't have any way to enforce the terms of your agreement. More or less, they'd be handing over money to someone they don't know and 'trusting' that they'll give it back one day.

Two words: Grow Up.
Finish school, learn how business works, and then come back with a proper proposal.

**bizdev** · 11-18-2009 10:40 PM

Originally Posted by TheStylist

You lend me $20,000 for 5 year period, in 5 years I pay you back $40,000. We can write up a contract and secure the entire deal through a lawyer or however works best for you, that way you are 100% secure in receiving your money back.

Just because you put your deal in writing doesn't mean the lender is 100% secure in receiving their money back. What if your business doesn't succeed or isn't profitable? You're making a huge assumption that you will be able to double their money back in 5 yrs.