5 mins

Borrower Interview | MercadoLibre Seller and Entrepreneur

Chris Grundy
Nov 22, 2015

This week we have a great interview with Bitbond borrower Enrique from @lotusflowervzla, a prolific MercadoLibre seller and Entrepreneur based in Venezuela. Below he tells us how he came into contact with bitcoin, what it's like selling on MercadoLibre and what he hopes to achieve with his loan. You can invest in his dollar denominated loan by following the blue link provided.

Bitbond: Thank you very much for taking the time to talk to us. Could you start off by telling us what your relationship to bitcoin is and how you first heard of it?

The first time I heard about bitcoin was on the news. After seeing how popular it became and how its acceptance grew, I decided to start using them. Bitcoins have allowed ecommerce businesses to send payments to different countries without having to incur in the transactional fees involved with currency exchange and sending international payments.

Recently, I needed the services of a graphic designer who is based abroad and whose country uses a different currency and by using bitcoins, I was able to send a payment without having to worry if I was getting a good deal on the exchange rate or not.  

Bitbond: Cool. 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?

Bitcoin will continue to consolidate itself as an acceptable form of payment and many people will continue to add them to their investment portfolio, too. In my opinion, bitcoin is the modern day equivalent of the internet.

Just as the internet created opportunities for businesses and individuals that resulted in internet-based businesses and online forms of social interactions, bitcoin will generate a plethora of industries and activities that will heavily really on the existence of the bitcoin itself to be able to operate or function. Bitcoin will also continue to become a tool that people in ecommerce can use to increase their sales and reduce transactional costs.

Bitbond: What do you hope to achieve with your loan, and why did you choose Bitbond?

I buy different types goods in bulk and I use online platforms such as MercadoLibre to sell them. I am continuously adding different product categories to my inventory, but currently I specialize in soccer jerseys and women´s affordable fashion sunglasses.  

After evaluating other peer to peer lending sites and other financing alternatives, I decided to use Bitbond because I liked their platform, I can relate to their values and I believe that Bitbond will be a great tool for my business. The loan that I am requesting will help me increase my inventory and allow me to afford several expenses that I need to make in order to help my business grow and make it more profitable.

Bitbond: What are the benefits of a bitcoin loan compared to a conventional equivalent like a bank loan?

The processes involved with a bank loan can be very stressful and time consuming and many traditional banks are not familiar with the ecommerce sector. A traditional bank does not give any value to your brand´s influence and its audience on social networks.

Also, they do not give any value to the hundreds or thousands of positive feedbacks or reviews you may have received in different selling platforms such as eBay, MercadoLibre or Amazon. Regular bank loans do not meet the needs of small entrepreneurs or people who are starting their business; with Bitbond I can get exactly the loan I need to meet my current needs while being adjusted to my capacity to repay it.

Typically, traditional bank loans are usually designed for companies who have extensive track record and can offer collateral such as real state.

Bitbond: What is your favourite feature on Bitbond? What features do you think are missing?

My favorite feature is how easy it was for me to apply for my loan. I like that Bitbond´s website is very simple and they are very transparent about their business. As of right now, I don’t think they are missing any features. Every small online business owner should be a Bitbond user.

Bitbond: 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 am looking for secure and reliable online marketplace where I can list my items and accept bitcoin as a form of payment. If you or the readers have any recommendations, please let me know in the comments section.

Bitbond: What would you want potential investors to know about your loan?

Investors should know that my loan is a safe investment. If you are looking to make some money with your current Bitcoins, this is your opportunity! I am responsible, I have the capacity to repay the funds requested, and Bitbond terms offer a great opportunity for both investors and myself. Please take a minute visit my loan´s page! Thank you!

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