Profile Picture
Loan: 
Term: 
Rate: 

Other Terms
Pledges: 
Days Remaining: 27
Lenders: 4  View
People Tracking: 6
LEND
$100 Minimum
Track Send Message
  • Summary
  • Business
  • About Me
  • Other
  • Townhall
 Loan Summary   I'm a lifelong Surf City resident, as well as a bicycle expert and enthusiast. Many of you know me as the manager at Monty's Bike Rentals and Repairs. Ever since I started getting to know customers at Monty's, it was obvious to me that a bike taxi business would do great here on Long Beach Island. The name of this service will be Beach & Town Bike Taxis. With your help, I will turn this opportunity into a profitable business.

I project that my business will generate more than sufficient cash flow to cover the monthly repayments of the loan soon after the business launches. I will add bikes, drivers, and maybe even locations as the business grows, and will collect enough fares to pay back your loan with interest in just three years.
 Use of Loan Proceeds  
Equipment3 custom made bike taxis will be enough to start the business

RentThis amount will cover 6 months' rent for a bike depot in an area that makes sense, such as near the town beach or the bus station.

New HireI'm going to need other strong, responsible "cabbies" who know their way around town. This amount will cover part time hourly wages plus payroll taxes for the first 6 months.

OtherAnnual insurance for all my bike cabbies. Based on research, I am assuming $150 per employee including myself.

Marketing4 quarter page ads in the Daily Starfish to get the word out.

Working CapitalExtra cash to help with monthly loan repayments and surprise expenses.