Poorfag right here. Rate my plan x/10. I have about $20,000 rn, but want to have more. I was thinking of buying a business with sbaloan with $20,000 down, and then borrowing against the cash flow for more money to buy cryptos. I could use the company assets as collatoral for lendingclub and get around $400,000 to invest in mining/ shitcoins.
what do anons think?
answer me TARDS REEEEEEEEEE
You can get a 400k loan from 20k?
you are going to die.
This idea will kill you
What's your credit score and income? You could probably get a personal loan of up to $100k at sofi.com at 8% interest.
no. i borrow $250,000 with $20,000 to buy a business. the business generates about $100,000 a year in profit. Then I use the $100,000 a year and go to a bank and ask for $400,000 for expansion purposes (aka cryptos and shitcoins).
explain?
sounds interesting. more money to borrow.
come on faggots. x/10. it isnt that hard
poorfag
has 20k
righto
Spare a 5$ for a rope because if you're not a larp you're gonna need it
I have just over $20k in crypto, up from $7,300 that I got from working for four months and quitting. Definitely possible to have that much and be poor. Also what should I do? It's sitting mostly in Monero
dude wtf bizbros. its a solid idea. if everything else fails i can sell the graphics cards for 70% of what i paid for it, and pay the rest of the debt through my profits from the business.
Sba won't give some fucking loser a 250k loan with only 10% down. 20% minimum and that's if you can prove you're not a brainlet.
sba 7a loan. 10%-15% is the normal range. I have pretty good credit
just man up and do it. Stop talking about it. That's why you are poor
yessir
i just graduated and have worked for a year at a financial service company, so i look like a somewhat decent human. but i would rather fucking die than continue with it. never fucking talked to a coworker for an entire year now
sba loan? where and how?
So you're 100% sure that the company you're creating is gonna generate that sum ? Also with the crypto bouncing like a black bitch , you better watch out for that blood pressure
no im not. thats why i buy. you can buy any coffee store or shit convinence store for like $70,000. no skill required. i can even hire some pejeet to run it for me
Good luck getting a bank to approve even an sba backed loan for only 10% to some noob who had never owned a business before. I've been down this road. I had to build my business with my own funds and now 5 years later with a profitable business, they're coming to ME with loan offers now that they see I know what I'm doing. But some nooblet? Good luck
I have a business that does 200k a year in cashflow right now (not a pipe dreamm)
My Kabbage loan was like 7,000. wtf are you talking about
>no skill required
You do realize this is real life and not Sims ?
Anyway i'm not really an expert so good luck
Are there loans to provide seed capital?
not in real life
i bow to your experience. but i am willing to sign away my right to remove the debt even if i declare bankruptcy. that is why they will give it to me. i come from nothing, and i will bet on my future with cryptos
this actually depends if you have collatoral and how much interest you are willing to take
LEND EVEN MORE MONEY TO MY HEAVILY INDEBTED ASS
you dumb fag
I see. That probably counts me out like user said.
fucking go big or go home. amirite???
This dude is all talk anyway, you can tell by the gaping vagina
why not just get a job that pays 500k/year?
How much do you deadlift user?