$6,000-$10,000 Business Loan @10-15% Interest

Discussion in 'Getting Started Selling Insurance' started by crons79, May 3, 2010.

  1. crons79
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    crons79 Well-Known Member

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    I am an independent agent seeking a business loan for $6,000-$10,000 @10-15% interest for 6 months or less.

    I have everything I need to get started and selling at a high volume upon being funded. I know where to get my leads, what product to offer, how to beat my competition, and have a 30 page business plan with two years of sales projections. I have 95% of everthing in place to be successful and can be up and running (making sales within a week). The only thing I am missing is what most new agents lack most and don't understand about this business which is you have to generate enough leads consistantly to talk to enough people to close enough sales.

    I am looking for the start-up capital to be able to buy enough leads to triple the initial investment in less than 6 months and pay off the loan in full. I am 100% positive I can do this therefore I am talking with local angel investors, but also wanted to try posting on the forum in case someone wanted to make a good return on thier money that understands this business.

    Please contact me with questions and thanks for your time.
     
  2. moonlightandmargaritas
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    moonlightandmargaritas Well-Known Member

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    What kind of collateral are you prepared to offer an investor?
     
  3. Mark
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    Mark Well-Known Member

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    You may want to share your 30 page business plan with who ever is going to loan you the money.

    This business is not as simple as just get the money and buy the lead and triple your money..
     
  4. YouGotMyMoney
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    YouGotMyMoney Well-Known Member

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    Mark, don't be sooooo negative man!

    Stop that "Stinkin Thinkin"!

    If you can imagine it, you can achieve it; if you can dream it, you can become it

    lol


    j/k


    :1cute:
     
  5. Mark
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    Mark Well-Known Member

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    WHy not borrow more money ?? Dream big!
     
  6. WinoBlues
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    WinoBlues Well-Known Member

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    His hopes and dreams Man. His hopes and dreams!
     
  7. moonlightandmargaritas
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    moonlightandmargaritas Well-Known Member

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    If you can borrow it, you can lose it.
     
  8. Mark
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    Mark Well-Known Member

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    Reminds me of that tv show called "shark tank"

    Most of the people really believe they have a good idea , even when it really sucks..
     
    Last edited: May 3, 2010
  9. Crabcake Johnny
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    Crabcake Johnny Well-Known Member

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    In all honesty and for a real reply; you will not get serious replies without collateral, letting someone pull your credit and remitting the last 3 months of your bank statements. Aside from that it's a very high risk loan and 10% to 15% is laughable. More like 50% to start the bidding.
     
  10. moonlightandmargaritas
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    moonlightandmargaritas Well-Known Member

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    50% could work - if he had some receivables or credit card batches to secure it!

    Let's face it, if he/she can't qualify for a credit card for this puny amount, there must be credit issues...

    15% for six months? Why bother? If I funded it, it would only be with some equity in the business included. That's how venture capital works!
     
    Last edited: May 3, 2010

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