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Looking for banks or private loan providers to help my business scale

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Mason

New Contributor
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Feb 19, 2015
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12
22
Colorado
Hello everyone,

I have setup a successful bitcoin mining farm and I am looking to scale the business. I am currently what you would deem a "small business" and I am trying to now scale my operation.
I am looking for fixed monthly loans. I have called EVERY BANK IN MY CITY and called all the SBA providers in my city. None of them will help me as they either do not know enough about bitcoin or do not see the value of me using my company's assets (the miners) as collateral. They don't understand that the price of the miners increases over time with the price of bitcoin so if for some reason I couldn't pay, selling machines would be very easy.

I have a competitive edge over the standard bitcoin mining farm due to a great network of individuals that I have developed over the last 5 years in this industry and this has given me an advantage of getting miners cheaper than most people are able and my overhead is severely reduced through some of these partnerships.

If you are interested or know of anyone that would provide either uncollateralize business loans or are willing to accept bitcoin miners as collateral, please let me know ASAP.
Thank you for your time and for reading!

EDIT: I am currently averaging $80-120K a year in bitcoin mined and have roughly $50,000 in miners that I would like to use as collateral

EDIT: If you don't know anything about the industry or are here just to criticize please find another thread. I am looking for investors that will help me scale
 
Last edited:

Johnny boy

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May 9, 2017
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Banks are not to be sold dreams.

Pick an a broad industry that would roughly describe what you do.

Finance

Ecommerce

Approach them, tell them the industry you're in, and show them the following:

1. Revenue

2. Tax returns that show profit

3. Real BANKABLE assets like real estate or vehicles

4. Time in business

5. Personal credit score

That's what banks care about. If you want to sell the idea of bitcoins and miners, talk to an angel investor. They love being sold scalable ideas. Banks don't give a f*ck.
 

Raoul Duke

You, you got what I need
EPIC CONTRIBUTOR
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Read Millionaire Fastlane
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Summit Attendee
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Feb 26, 2016
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Ah.

Did you give a powerpoint presentation?

Maybe go with the Cartman Startup method.

uQdTVXX.jpg
 

Mason

New Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Feb 19, 2015
38
12
22
Colorado
Banks are not to be sold dreams.

Pick an a broad industry that would roughly describe what you do.

Finance

Ecommerce

Approach them, tell them the industry you're in, and show them the following:

1. Revenue

2. Tax returns that show profit

3. Real BANKABLE assets like real estate or vehicles

4. Time in business

5. Personal credit score

That's what banks care about. If you want to sell the idea of bitcoins and miners, talk to an angel investor. They love being sold scalable ideas. Banks don't give a f*ck.
Where can I find angel investors?
 

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