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- Nov 26, 2015
- 13
- 9
Hey guys,
my current situation is that i am 10k in debt and have to pay some bills in a week from now. Going through all the choices, i am thinking to get a loan of 20k. What do you guys think of it? Would like to hear insights from other people here.
I made my first footsteps last year on November where i started an "Amazon Business" and sold stuff on amazon. I had one product (because of my small capital) and after a month or so, i was already making 1k/day from this product with 50% profit margins.
I was very happy because it was my first real business and so much money for me. It was a huge milestone for me.
Until March of this year hit and the sales went down slowly, but progressively as more and more competitors arised.
Now i am here, on August, making 50/day with 50% margins. I am 10k in debt and have to pay 2k bills in the next 7 days.
Now i know that i have and will make my own decisions, but it never hurts to ask someone for advice and opinion:
What do you guys think of a loan? i was thinking of getting 20k, reinvest 10k in my current idea and plan/project and use the other 10k to pay the credit itself until my project makes some money (btw it will be an online-shop, but this time on my own platform)
I really need a solution because i am stuck in this situation.
Thank you.
my current situation is that i am 10k in debt and have to pay some bills in a week from now. Going through all the choices, i am thinking to get a loan of 20k. What do you guys think of it? Would like to hear insights from other people here.
I made my first footsteps last year on November where i started an "Amazon Business" and sold stuff on amazon. I had one product (because of my small capital) and after a month or so, i was already making 1k/day from this product with 50% profit margins.
I was very happy because it was my first real business and so much money for me. It was a huge milestone for me.
Until March of this year hit and the sales went down slowly, but progressively as more and more competitors arised.
Now i am here, on August, making 50/day with 50% margins. I am 10k in debt and have to pay 2k bills in the next 7 days.
Now i know that i have and will make my own decisions, but it never hurts to ask someone for advice and opinion:
What do you guys think of a loan? i was thinking of getting 20k, reinvest 10k in my current idea and plan/project and use the other 10k to pay the credit itself until my project makes some money (btw it will be an online-shop, but this time on my own platform)
I really need a solution because i am stuck in this situation.
Thank you.
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