- 14,809
I agree. There is nothing it for me or anyone else under his terms. He's asking someone to risk 10K for the possibility of making 1K. No way.
$6,000-$10,000 Business Loan @10-15% Interest
- Thread starter crons79
- Start date
- Thread starter
- #12
- 300
As for collateral I have an item worth $2500 which could be easily sold on ebay. (won't happen though because I will repay the loan).
As for the credit issues I do have some but they are from 5 years ago. No matter what I do my score doesn't seem to go up very much and with the way banks and other lending services are being right now it is not an option.
Mark, like you said this business is not that easy, but if you keep learning from your mistakes and keep building a better system then I know I will be a top performer like some of the people on this site.
If anyone is serious about the business loan then please PM me and I will be happy to discuss it in great detail (via the phone) and provide how I will make sales and repay the loan.
For the non-serious please keep chatting. I like the conversations on here. LOL
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By the way the show is called "Shark Tank" and its one of my favorite shows! I love anything having to do with business, money, investing, and Christianity. The other good show on right now is "Undercover Boss".
As for the credit issues I do have some but they are from 5 years ago. No matter what I do my score doesn't seem to go up very much and with the way banks and other lending services are being right now it is not an option.
Mark, like you said this business is not that easy, but if you keep learning from your mistakes and keep building a better system then I know I will be a top performer like some of the people on this site.
If anyone is serious about the business loan then please PM me and I will be happy to discuss it in great detail (via the phone) and provide how I will make sales and repay the loan.
For the non-serious please keep chatting. I like the conversations on here. LOL
- - - - - - - - - - - - - - - - - -
By the way the show is called "Shark Tank" and its one of my favorite shows! I love anything having to do with business, money, investing, and Christianity. The other good show on right now is "Undercover Boss".
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For you to be taken more serious, you'll need to over some additional basic information:
- How long have you been in the insurance business? People reading this, as posted, will assume you are new. If so, this is extremely high risk.
- Buying leads does not correspond to sales ability. How will you surpass the average agent in closing leads?
- Assuming this money is strictly for the business, how will you live for the 6 to 9 months it takes to get started? Do you have sufficient savings? Assuming you are new, figure 3 months till your first check, 6 months till your first reasonable check, a year till you are really supporting yourself. Some can do better than this, most don't do this well.
I feel your pain. It's hard to come up with the initial investment to get started. Sometimes the best way is by working a part time job, use that paycheck to bankroll your start in a business.
Dan
- How long have you been in the insurance business? People reading this, as posted, will assume you are new. If so, this is extremely high risk.
- Buying leads does not correspond to sales ability. How will you surpass the average agent in closing leads?
- Assuming this money is strictly for the business, how will you live for the 6 to 9 months it takes to get started? Do you have sufficient savings? Assuming you are new, figure 3 months till your first check, 6 months till your first reasonable check, a year till you are really supporting yourself. Some can do better than this, most don't do this well.
I feel your pain. It's hard to come up with the initial investment to get started. Sometimes the best way is by working a part time job, use that paycheck to bankroll your start in a business.
Dan
- 9,744
I'm sure we will. You should keep dreaming as well!
- Thread starter
- #16
- 300
I am a Christian and take this idea of getting a loan very serious. I hate debt actually. Eventually I will get to the point where I am debt free, but thats not in the cards at the moment. And I am being honest when I say I will pay it back.
- How long have you been in the insurance business?
I used to be in home improvement sales. Then I got my license and worked for Metlife for two years. You learn a lot, but there is no system there. Sad too, because they really could be an impressive company. I then worked for a company, helping postal workers with thier retirement plans. I made a good amount of money there, but didn't like it) I have been independent for a year now and have learned a lot. I finally figured out how to make a really good living in the business, but need some help getting started.
- Buying leads does not correspond to sales ability. How will you surpass the average agent in closing leads?
I have excellent communication skills combined with persistant follow-up, and the system I have designed I will do well.
- Assuming this money is strictly for the business, how will you live for the 6 to 9 months it takes to get started?
I have very little expenses personally and can live on very little. Commissions will come in about 30 days or less from the first week. I have two years worth of projections, but the best case senario is I will pay off the loan in 60 days. The worst case I will pay it off in 6 months. Average about 90 days.
- How long have you been in the insurance business?
I used to be in home improvement sales. Then I got my license and worked for Metlife for two years. You learn a lot, but there is no system there. Sad too, because they really could be an impressive company. I then worked for a company, helping postal workers with thier retirement plans. I made a good amount of money there, but didn't like it) I have been independent for a year now and have learned a lot. I finally figured out how to make a really good living in the business, but need some help getting started.
- Buying leads does not correspond to sales ability. How will you surpass the average agent in closing leads?
I have excellent communication skills combined with persistant follow-up, and the system I have designed I will do well.
- Assuming this money is strictly for the business, how will you live for the 6 to 9 months it takes to get started?
I have very little expenses personally and can live on very little. Commissions will come in about 30 days or less from the first week. I have two years worth of projections, but the best case senario is I will pay off the loan in 60 days. The worst case I will pay it off in 6 months. Average about 90 days.
dadkins131
Expert
- 59
You should be able to secure a credit card, at a lower interest rate than what you are agreeing to return to your investors.
Right now, you can do as I did, and take out a credit card with Citi. They have two offers at the moment for the platinum select line. Either 0% till March 2011, or 0% for 6 months and an aggressive rewards plan.
I took the first offer, and received a credit line of $11,500.
I am not sure what line of business you are in, but with life insurance, you will be unable to repay this loan in 6 months, and still have capital to run your business, when you factor in as earned income and the like.
If you can not secure this card, it would be because you have too much debt, or credit history issues. In either scenario, you will be very hard pressed to see any investors offer you this capital.
Right now, you can do as I did, and take out a credit card with Citi. They have two offers at the moment for the platinum select line. Either 0% till March 2011, or 0% for 6 months and an aggressive rewards plan.
I took the first offer, and received a credit line of $11,500.
I am not sure what line of business you are in, but with life insurance, you will be unable to repay this loan in 6 months, and still have capital to run your business, when you factor in as earned income and the like.
If you can not secure this card, it would be because you have too much debt, or credit history issues. In either scenario, you will be very hard pressed to see any investors offer you this capital.
- 25,021
>>""I am a Christian and take this idea of getting a loan very serious.....................................................................................................................................................................................""
Hiding wallet!!!
Hiding wallet!!!
- 9,744
Reminds me of the old saying...
"I'd rather owe it to you than stiff you for it."
- 14,809
Reminds me of the old saying "In order to borrow money you must first prove you don't need it."
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