Outside of outright asking here, is there a place or forum that a person could go to seek loans from private investors?  A place to pitch what I am looking for, the terms, etc?  I know there are people out there that do a lot of lending outside of traditional institutions, but I am not aware of how to get started there?

I am seeking a loan (backed with with some pretty lucrative loan terms and a very low risk profile).

Time is more the critical element to why I would ask about private lending vs. corporation based.

Thanks,
Mike!

You mean venture capital?



http://venture-capital-firms.findthecompany.com/

Lending Club do peer to peer loans. Currently have some money invested there. Not sure if that is what you seek or more a VC thing.
 

Thanks.

I think the VC stuff seems too large for what I am wanting.  I am looking for more of a "Personal" loan on the upper end side.  Maybe a VC would be interested, though, yet I just see them looking for their typical purchase/liquidate/flip company type thing?

Mike

Lending club issues out loans - but definitely at THEIR terms and limits.

Here is what I am looking for:

I am seeking a $160,000, with an 8% Year over Year return, based on a 10 year stake.  From a risk perspective, it comes in the "highly guaranteed" category; just through unconventional business terms.  So in my example, I could find one partner or many.  For example

Person A puts in $50,000.  I would pay them a monthly payment of $606.64 for 120 months.. At the end of your term, you will have been paid back your $50,000.00 in principal and profited $22,796.56, for a total monetary collection of $72,796.56.

Person B puts in $75,000.  I would pay them a monthly payment of $909.96 for 120 months.. At the end of your term, you will have been paid back your $75,000.00 in principal and profited $34,194.83, for a total monetary collection of $109,194.83.

Person C puts in $35,000.  I would pay them a monthly payment of $424.65 for 120 months.. At the end of your term, you will have been paid back your $35,000.00 in principal and profited $15,957.59, for a total monetary collection of $50,957.59.

or

Person D puts up $160,000.  I would pay them a monthly payment is $1,941.24 for 120 months.. At the end of your term, you will have been paid $160,000.00 in principal and $72,948.98 in interest for a total payment of $232,948.98.

If the loan would be paid off early, it is still a very lucrative deal for the investor.  For example, if I decided to pay out the terms after 5 years (60 payments of $1,941.24), I would issue a final check of $95,738.99 for balance due.  In this hypothetical example, the investor will have received a total sum of $212,213.49 from the loan.

As mentioned before, the risk profile is low due to:
- guaranteed income to afford payments
- good credit (will explain)
- life insurance policies (loan will be written in to payoff immediately)
- I am terminally ill, have an unknown period of time - but hope a few years to go at it.

Thanks,
Mike

Not 100% sure you can dictate those terms, but prosper.com does crow sourcing loans.  I have one for some home improvements I did a few years ago.

 
I gotcha, I remember your other thread. Best of luck to you. Not sure who would work on those terms other than a VC type person since its so outside any normal type of criteria.

If you don't mind, PM me the car you want (just curious).

Thanks for the reply.  Prosper is like LendingClub and a few other crowd-source lending sites.  It is in an interesting model, but it is similar as a user experience going to a bank and asking for a loan (except it is online).  Further, they fix limits on the loan at 35 thousand or 40 thousand.  Further, everything is modeled to the typical loan structure.  That is great, just not what I need in this case.

Hell - I am just looking for someone who has money and wants to make more of it!    It is just hard to set terms in those canned websites.  What would be really awesome is if an ARFCOM member would step up for me here.

Thanks,
Mike

I will IM you.  I just didn't want the thread to go off track (pun intended) about what the money was for.  Further, I have already had one credit bureau remove the 4 derogatory collections that were put on my credit account  (within 48 hours).  I am sure the other two will follow suit soon, it just sucks as dealing ANYTHING with the credit bureau takes a long time.  Time being a factor I don't have.  If I can't find someone to loan me the money this way, I guess my best bet will be 3-4 months from now when those disputes are removed off each of the bureau (1 down).  I am willing to raise my % a few points to get what I need NOW - hence me trying this way.  Woodside told me they WILL lend me the $ once all 3 bureau's have the four collections removed.  Maybe that will go faster than I thought, but Experian removed them from my credit report in 48 hours.  Woodside will lend me in the 5 to 6 % range.  I will pay more for now! I don't want to lose this specific car I am going after.

Mike

they are called angel investors in the industry. private equity and venture capital are usually bigger amounts/focused on startup companies' explosive growth potential.

no sources I know of to look

perhaps local financial advisors personally known who have wealthy clients who may be interest. kind of a network thing- slow process sometimes.

alternatively, for terminally ill people, there are companies, and they are legitimate, that buy the life insurance policy from the insured and give them the cash. no sources for that, either.

best of luck.

ETA: heres the terminal ill policy sell/trade market synapsis: http://www.bloomberg.com/news/articles/2014-07-30/life-settlements-investors-interest-in-life-insurance-grows

What you seek is a loan shark.

Seriously though, good luck sounds like you have it pretty well under hand. Why not use a bank?

160K?  What car are you looking at?

I would rather keep that private at the moment, as I don't want this thread to get off track about this car or that. :)

Thanks,
Mike

So wait, your repayment source is life insurance on yourself and you're terminally ill or am I reading that wrong?

gofundme

Seems high risk with little reward.  There are much better investments for a mere 8%.  You're probably going to have to give up equity if you want anybody's money that's not a bank.

You read it wrong.

The repayment source is my income.  If I shall fall, before the term is completely due, my wife will pay the term off within the month of my death.  We are hoping for at least 5 good years.  The idea is if I had this car, maybe I can live longer!

Life insurance monies have all been assigned to take care of the wife and children appropriately.  A small part has been reserved for this loan if it had to be used.

Thanks,
Mike

This is guaranteed funds though?

In regards on investments for a "mere" 8% - I am not familiar with them and it seems like not a lot of people are.  I am sure if you are considering mine "high risk" then sure - there are other higher %s.  With this loan to me, there is zero doubt you will be paid back your investment and a great portion of interest.

Edit to add: how is 5 years and $212k in the bank high risk when it is guaranteed?

Thanks,
Mike

I wasn't looking for other people to pay for my stuff.  I want to pay - just looking for something NOW.  I am sure the credit dispute stuff will work its way through, I just don't want to lose the opportunity.

Mike

No one has posted the Sky Lending screenshot yet?