Where to look for a $700k loan

Where to look for a $700k loan
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#1

We are planning to loan about $700k to start a minigolf project in a resort area. Does the banks loan such a high amount? Or, we need to find an angle investor?
{edit- this is a class project}


#2

This is an automatically-generated Wiki post for this new topic. Any member can edit this post and use it as a summary of the topic’s highlights.


#3

No, you don’t usually loan money to banks. That’s called making a deposit to a bank. Why does the bank want to build the minigolf so badly that it would want a loan from you or from acute, obtuse, or right investors?


#4

And when you start looking for angle investors stick to the big ones, they are called obtuse investors


#5

Only $700k? Do an ICO and raise $70M to start a chain of such golf clubs across the country. Then spend most of it on your salary and the rest building a nice golf club in some foreign island with no extradition treaty.


#6

Thanks for “oh so helpful” comments. If you get pleasure laughing at someone’s lack of knowledge, please have your well deserved fun.


#7

What school are you in?


#8

Trump University!


#9

That’s so cold. :smile:

I was hoping it was such & such elementary.


#10

I’m kinda hoping this guy is some kind of troll because it would be really sad if kids are turning to internet forums to complete homework without rudimentary knowledge of the financial system


#11

or English.


#12

Prolly not a troll as the account was registered early on, so it must’ve come from FW.

Ha, my reply above wasn’t far off:


#13

Seriously, as a class project this would probably be one of the more unique and ambitious business plans. Although I’d probably leave out the extradition treaty part. Go for more of a “earn a million dollar annual salary while we spend years trying to perfect the design of hole #14, before actually building anything.” Then announce you’re going to operate entirely using Bitcoin (perhaps you’ll speculate about using the friction of the golf balls rolling on the ground to power mining computers) and experience a huge stock bump, then pivot to “digital mini-golf” and sell out to Google for 9 figures.

I assume you are a high school student, and you think this is all a joke. But with the right presentation I’ll bet you could nail an A. As with all things fundraising, it really is all about the presentation.


#14

Yeah, I’ve never understood this viewpoint. Someone gets a take home assignment and they want to use all available resources to come up with the best answer. The fact that OP is looking to others to get thoughts on the assignment should be indicative of a desire to provide the best answer.

Online forums, allow someone to reach knowledgeable people more easily. Why is it only acceptable to discuss with people who have less knowledge or are physically close to someone.

That said, I’d have no qualms about FD disallowing homework questions because they generally don’t result in great topics. But the idea that students are the only segment of society that are not allowed to get advice/assistance on online forums to me is ridiculous.


#15

Oh please. The OP’s question is pure laziness. Seems like he just wants a concise summary from us without any legwork at all. I wouldn’t mind helping out if its a somewhat coherent question, but look at his post… seems like he didn’t even want to bother typing. Why would he want to spend 5 minutes on google to find his answer when you can do it for him?


#16

OP, send me a private message. I can help you find a loan for a commercial venture.
FYI, for everybody else, there are foreign investors with a lot of money that are interested in the US market and most of the time , their grasp of English is not great. But they do have significant assets. Guessing that OP is not a US citizen/permanant resident.

After seeing the edits, I’m not sure what class project means. If OP is in high school and looking for funding, somebody provide him the contact number of Bill Gates.:grinning:


#17

The collective wisdom of this branch out of FW is palpable. If you don’t have any clue about the information I am searching, please don’t try to bash it; just because you don’t know or you are too proud to share your epic knowledge. Knowledge can be earned from anywhere, outside of a classroom or a finance book. I was hoping to get a different perspective and off course, you folks delivered.
Northstar, reading is a good skill; whatever you interpreted as “edit”, was actually part of the OP. If you are floating the idea of helping me to find a loan, please take a hard look at yourself.
With all that being said, this is my last entry into this forum. Hope, nice folks like you, will move FD to new dimension.


#18

I suggest you go fix the 1st post. Make sure it is comprehensible and free of grammatical errors.
And you might want to elaborate on what a class project is. We have no clue if it’s a high school project or MBA project or something else. We are not savants that can discern what you need from your original post.
Go fix it and come back , we’ll help you.


#19

One way would be an SBA loan. You will need a 10% down payment. You will need a bank to support this loan.

Next a private lender also called a hard money lender.You will pay a very high interest rate.

Finally, and likely what the project is about, would be crowdfunding for you business.