This weeks borrower interview comes fresh from the Philippines. Micah, an Amazon seller and bootstrapped entrepreneur, started her Online business with only $200, but has grown it in a short space of time, and now has more than 300 sales to her name as well as a thriving store. In this wonderful interview, Micah explains what her business is all about, what the future holds for bitcoin, and what investors should know before investing.
Her excellent Amazon loan is already 79% funded, and investors need to act quickly if they want to support a growing Amazon seller @ 28.25% pa.
Now, let’s get to the good stuff!
Q: What kind of business do you run and what should investors know about it?
I run an Amazon FBA business. I focus more on home, health, and security items. I started with $200 in December 2015. Now, I am having a net profit of $1100 per month. I also co-funded a Philippine-based Virtual Assistant company – Daily Managers. This was inspired by the success of my Amazon business. It is just a month old, but already getting traction (and of course, clients).
Q: How come you ended up starting this business and why have you chosen this particularly niche?
I am an online freelancer (Web Development, Research, Writing, etc.) for more than 10 years. This job opened my eyes to the limitless possibility of eCommerce. So, I started searching for a good platform to start engaging in International Business. I choose Amazon because I have the opportunity to start small.
Q: What do you hope to achieve with your loan and why did you choose Bitbond over a bank?
I will use my Bitbond loan to grow my Amazon business. I have a new product that is already in development. My current Bitbond loan will be used to pay off half of the production cost. I choose Bitbond over a bank because of lower interest rate, less paperwork hassle, and people understand what I am doing. I have a good credit standing with my bank, but, explaining the nature of online business would be traumatic. It would literally cost me an arm and a leg!
Q: What is your favorite feature on Bitbond? What features do you think are missing?
Q: What would you want potential investors to know about your Amazon loan?
Q: What do you think the future holds for bitcoin? Is it the modern-day equivalent of the internet or will it fall flat on its face?
Q: As a business owner or an employee, does your place of work accept bitcoin? If not, what do are the chances of that changing?
I accept bitcoins in my freelance work and VA business. I want to make things easy for my customers, and at the same time, I want to help them experience bitcoin. On the other hand, my eCommerce shop with Amazon does not accept bitcoin yet (unless you use a third party), but, I am hoping that they would allow this in the future.
Thank you Micah for an excellent interview! I hope all you investors got some great insights into what it takes to run an Amazon business and why funding a small business loan, such as Micah’s is a rewarding endeavour.
Thanks for reading. Until the next time & don’t forget you can apply for a low-interest Amazon loan of your own 😉
Latest posts by Chris Grundy (see all)
- Which is the Best Amazon Repricing Tool? Our Top 10 - March 28, 2018
- 1741 Fund Management and Bitbond Launch SME Lending AIF for Professional Investors - January 31, 2018
- How to List Faster with eBay Bulk Listing - January 19, 2018