Getting A Loan

Answers to your qestions about moving to, and living in, Peru,
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yeahdogg
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Getting A Loan

Postby yeahdogg » Thu Nov 17, 2011 12:16 pm

Hey!... Hope things are going smoothly for everyone!... I have a question. I have found a little business that I wish to buy in Lima. It will bring in about 5 or 6 grand per month. Its not a big business. I need 3 grand to buy it. Anyone know where an Expat can get a short term micro loan here In peru? If I was state side I know of verious resorces, but that of course aint the case. I would be willing to give a lender a good return on his or her money... Got any info or Ideas? Thanks!

YeahDogg


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sbaustin
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Re: Getting A Loan

Postby sbaustin » Thu Nov 17, 2011 1:56 pm

It sounds very suspect the venture that you are buying into just looking at the numbers you've provided. Any business than can generate 5 to 6 grand (I assume profit) per month would sell for 60k to 600k depending.. A word of caution, be careful.
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rgbjr
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Re: Getting A Loan

Postby rgbjr » Sun Nov 20, 2011 9:52 am

Hi I agree my mother told me if it is too true to be good it probably is not. There are a lot of con artist in Peru like other parts of the world. Just ask yourself how well do I know this person and his business. I wish you a LOT of LUCK either way. DO YOUR HOMEWORK!
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Re: Getting A Loan

Postby jude » Sun Nov 20, 2011 4:48 pm

Yeah, we'd all like such a business. Spend 3K to make 6K a month? Why on earth would someone sell it that cheaply?
jimmyglen
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Re: Getting A Loan

Postby jimmyglen » Mon Nov 21, 2011 9:08 am

I would be willing to do the deal if it were legit

"IF"

unless this is your family selling you this business then its sounds like you are buying the Brooklyn Bridge
TE AMO PERU!
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yeahdogg
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Re: Getting A Loan

Postby yeahdogg » Tue Nov 22, 2011 10:32 am

Hey everyone thanks for your replys. I realize this may sound too good to be true, nevertheless I belive the woman´s reports because of the nature of the business. Further, whatever investment anyone made would be secured by the inventory. Which is very liquid and could move fast should I, god forbid!, go belly up. Finally, I think the reason the business is kinda cheap is because the lady is old and really appears to just want to get out...she says she made all the money she wants to. Her husband died about 3 or 4 months ago and they use to run the business together she says she does not want to do it anymore. I am only looking for a very short term loan, say 6 to 8 months. I would not want to drag things out over a year or more. Anybody wants more details feel free to email me and we can set up a meeting...This is a business I would be running with my girlfriend...She is actually the one who actually happended upon the opportunity. Anyway, once you look at the set up, and again, it is a small business, I think most people would see that the small investment is fairly secure... barring of course acts of God... :shock:

YeahDogg
goingnowherefast

Re: Getting A Loan

Postby goingnowherefast » Tue Nov 22, 2011 10:48 am

Unless this business you're buying has something to do with cocaine or heroin I would say it's bogus.

Several weeks ago there was a group of Peruvians arrested in the States for Ponzi schemes that probably sounded a lot like this one. I couldn't find the affadavit but the exact same thing happened in July also.

http://www.fbi.gov/seattle/press-releas ... ts-in-peru
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yeahdogg
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Re: Getting A Loan

Postby yeahdogg » Wed Nov 23, 2011 1:04 pm

Hey folks!... I think I should clarify one thing.... This aint my first time around the block, I am a bit older than 25...And I have run a few small businesses in the states. I have seen enough scams in my life time to know when something is legit and when its bogus.... I am pretty sure this is not a scam..This just happens to be one of those rare opportunities that comes a long every once and a while... Just dumb luck really, being in the right place at the right time kinda thing. Anyway, next week I will go into the shop and work for 2 weeks to verify the womans numbers, as she has invited us to do. I am sure she may have inflated the numbers a bit, as all business owners do when they wanna sell...but I cant imagine they would be inflated a heck of a whole lot. Anyway, while I appreciate everyones words of caution, I really am just looking for some resources, a name a contact, a company, etc... A potential investor can look at the operation check the collateral and determine if it is worth while or a wast of time I am only looking for a small amount of money not buying a Bentley money as in a ponzi scam (as goingnowherefast seems to suggest) or is it only scheme? can a Ponzi be a scam as well as a scheme? And hey whats a Ponzi anyway? who came up with that word? Why not a Moogie scheme? Actually I would call it a Moogie scam, not scheme.. sounds better...But Im getting off track.
Anyway's, I am not really looking for a partner, only someone who wants to make some cash over a relatively short period of time and then move on perhaps making a friend in the process....Does anyone know where an expat can go? thats really what I kinda interested in knowing....

Yeahdogg
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sbaustin
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Re: Getting A Loan

Postby sbaustin » Wed Nov 23, 2011 4:32 pm

Make sure you request their peruvian tax returns they've filed if you haven't already. If they haven't been filing then it is really questionable and hopefully you realize, her just asking that small amount of money compared to sales makes it just seem like she just wants to recoup her money from the inventory she has which makes sense. If you haven't thought about it, ask her to exclusively license the business to you with an option to buy for after a few months. That will give you an opportunity to determine how legitimate or profitable it really is. Just a though, good luck!
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yeahdogg
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Re: Getting A Loan

Postby yeahdogg » Thu Nov 24, 2011 10:27 pm

Thanks sbaustin... that is something I had not thought about... and I will do... but you are correct...she only wants to re-coupe the cost of her inventory that is what the 3 grand is for... But I will ask about the taxes thing... Useful information...Thanks again...

YeahDogg

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