Small Investment Needed - $17,000

**MJaguar** · 06-22-2010 04:53 PM

Hello. I am looking for a small loan of $17,000 to purchase new equipment for my current retail business. Banks are unwilling to loan money at this time. Even with good credit. There are a few ways we could go about repayment so that it is secured and you will receive your money back. I will authorize an electronic bank draft for x amount for so many months or some other way.

Maximum time to repay back is 36 months. If I see a very big turn out from customers when the new equipment arrives I could possibly pay back in as little as 12 months.

I have a business that has been opened a little over 9 months with my current gross sales over $66,000 and I am doing quite well. I am looking at this new equipment to expand and bring in more revenue. I am currently not seeking a partnership but just an investment opportunity for someone. I have already done all the leg work and gotten all approval for the new equipment in my current location. I have the 220v electrical already ran and equipment is ready for me to purchase. I have all permits and everything in line to get this new equipment.

I did have the financing but it fell through when the landlord took several days to approve the addition and they are unwilling to extend the offer to me again without me waiting a period of 6 months.

Please do not contact me with some other business opportunities, investment opportunities, putting up money up front, joining some forum or website to find investors. Basically don't try scamming me
because I won't bite.

Thanks,
Matt

**rogercbryan** · 06-23-2010 09:42 AM

What are you offering as collateral?

**MJaguar** · 06-24-2010 10:51 AM

Well I don't have a whole lot but here is what I can offer as collateral.

I own a home that I owe $83,000 and it's worth $95,000 (appraised value)
I have 2 cars and one is paid off.
I have $13,150 in store fixtures and equipment. Plus a computer with $1,600 POS software.
I have a little over $10,000 in inventory.

Then I have some other household items.
The $17,000 will be strictly used to purchase the equipment. I have already spent the money to have the 220 volt installed. I will be spending my money for the sign and the other stuff needed to operate the equipment.

Also this is going into a Mall where I already have my current retail business. There is a lot of foot traffic here and there use to be one setup here years ago. I have seen the sales figures from the mall office what they did every month and they done quite well. But the owner was into drugs and spent his money to support his drug habits (I was told this by one of his past employees [a friend of my wife], the security guards and mall management.)

**MJaguar** · 06-25-2010 04:59 PM

I just got off the phone with the CEO of the vendor where I am going to purchase the equipment and he said if I can get $10,000 they will in-house finance the rest of the equipment. I can myself come up with $3,000 and I can get the equipment in my location and start making money. I had convinced him before that if I came up with $10,000 they would hold it until I came up with the rest but after talking with him further I can actually get it in my store so I can start bringing in revenue for it. I already have a thing setup on prosper.com for $7,000 and it is already 20% funded. If you would like to contribute I would greatly appreciate it. I don't know if I can post a link on here yet but if you send me a pm I can give you the link of my loan on prosper.com.

Thanks,
Matt

**MJaguar** · 06-25-2010 06:08 PM

Seems suspicious. Username alenbrown but ends his reply with Mr. David Jones.

Well Mr. David Jones or alenbrown do you have a website so I can take a look at your company? Oh yeah do you charge any upfront fees of any kind? If so then you can forget it because I know you are a scam and I will report you.

Edit: I just looked over what all you were asking for. Gender, Nationality, Personal Profile, and BANK ACCOUNT BALANCE?? Lol dude save yourself some trouble and find another site and people to prey on.

**MJaguar** · 06-26-2010 10:31 AM

Well good it looks like they got rid of the scamming guy.
If anyone is interested in helping me out on the $7,000 that I need for my equipment purchase please visit Purchase of Equipment for business (Loan listing #463744) - Prosper
it is already up to 35% funded. If I get the $7,000 plus the $3,000 I already have I can go ahead and get the equipment in my business and start making money on it and the quicker I would be able to pay the loan back.

I have estimated that I should do between $4,000 - $5,000 per month from this equipment with $40 per month extra in overhead plus the loan payment. This is based on the lowest amount a customer would spend and on a small amount of customers per day. I like to do my estimates with the lowest possible value a customer would spend just so I can see if the ROI is greater than the expense.

**MySuccessIzUnlimited** · 06-26-2010 02:04 PM

Hope you get everything you need. Sounds like you are on the right track.

**MJaguar** · 06-26-2010 08:54 PM

Should I start a new thread?

**Carlos™** · 06-27-2010 02:58 AM

Originally Posted by MJaguar

Should I start a new thread?

Nah, you're on a roll.

**rogercbryan** · 06-27-2010 06:24 PM

You have a decent plan. Its hard for people to come up with capital these days. I asked my question to get your going in the right direction. You should type up your exact offer and put it out there for people to see.

Have you tried to get a line of credit on your home for the $10K... you seem to have the equity. Offering the title to your car could also help when soliciting for what you need.

Have you ever heard of the SCORE counselors from the SBA? I would look up the local chapter and go talk with them. They may be able to help considering you have a decent plan and some collateral.

PS- no one finds money on this forum...

**MJaguar** · 06-28-2010 10:53 AM

I have tried to exhaust the other resources. But I have never had any luck with getting anything done with SCORE or the SBA. I swear that those programs they have are only disigned for minorities. Basically I am saying if you are a White American Male you aren't going to get anywhere with them. Unless you have a perfect business plan, know somebody on the inside that can help, or have excellent credit. I am so frustrated with them I will never go to them again. I have tried to get help from them with all 3 businesses I have started.

On a side note my loan that I am trying to get through prosper is now 48% funded. So if that goes through then I will be able to get what I need to get the equipment.

**rogercbryan** · 06-28-2010 10:58 AM

wow... I didn't even know Prosper was back up and running... thats good news. If you are at 48% I'll bet you get what you need. I've always liked Prosper... I just didn't know it was back online after being taken off in 2009.

I'm not sure I agree with you on SCORE. I've used them numerous times to help with complex government contracts. They've always been a big help.

**MJaguar** · 06-28-2010 12:22 PM

Well then maybe you could help me out with SCORE. I have had nothing but trouble with them. Maybe you have some insight that could help me out.

Yeah I remember when Prosper went down myself. But basically there were no laws or something that governed that type of lending. They have completely redesigned the website and they are now offical. They have certain guidelines they must follow now. I know as a lender they want your SSN for a 1099 so they can tell the government how much money you made on your lending so the government can tax you on your profit (interest paid to you).

I have just looked and it's up to 51% funded. But I only have 30 hours left before it has to be funded 100%. I hope I get there.

**rogercbryan** · 06-28-2010 01:43 PM

So you went to SCORE and you were assigned a counselor correct? The counselor should have been matched to you based on your needs and their experience. You then should have sat down with them for about 30 minutes to go over what you came in for. They then should have given you some resources to find what you needed or put you in touch with who ever they think could help you.