In this week’s borrower interview, we talk to the charming Gabriele about the success of her eBay shop, her bitcoin loan, and the future of lending. Her “A” rated loan is active for another 8 days.
Bitbond: Can you tell us a little about your professional background? Why are you so interesting for eBay sellers?
There will come a day when you need a novelty sized bow! And on that day, you will realize that you can’t just pop into the shop and buy one. Conventional stores simply don’t sell them.
My son saw this state of affairs and decided to start selling bows and ribbons online.
I have always loved wrapping gifts so it was an obvious step for me to get involved. Turning my passion into my profession has been a natural and very enjoyable process as a result.
I completed my commercial training very early in life and started my own business almost immediately. This was before I immigrated to the sunny South with my Swiss husband. Here, we have spent the last four years making novelty sized ribbons and bows for special occasions.
For investors it might be interesting to know, that we are the only online shop in Europe which specializes in the creation and selling of ribbons and bows. Thus, we have managed to establish ourselves (Schleifenparadies) as a market leader and already ranked number 1 in Google for most related searches.
Bitbond: Wow. No wonder you are one of the most successful eBay sellers we’ve had the pleasure of interviewing. Can you tell us a little about how you came into contact with bitcoin? What was your first interaction with it?
Because Schleifenparadies has grown so rapidly from the start, I’ve since been looking for possible modes of financing since its inception in 2013. That’s when I first came into contact with bitcoin, although the concept seemed a bit murky in those days. Maybe that is because I’m no longer the youngest 😉 ! But I found it very interesting, kept up-to-date with it, and talked to my family and friends about it regularly.
Bitbond: Great. What made you decide to get a loan via Bitbond? Could you give potential investors some details.
On the one hand, we’ve never been fans of the banking system and instead, espouse the crowdfunding and business angel concepts. In my opinion, they are simply more modern and are better adapted to the demands of the digital economy.
As already mentioned, we checked out alternative sources of financing three years ago. We found, however, that the offers we received on these alternative platforms, failed to meet some or even all the standards that we set ourselves. Most of them seemed a bit dodgy, so we decided for finance ourselves as much as possible.
I think eBay sellers and small business owners should think long and hard before taking out a loan they might not be able to repay. With that being said, my son and I are totally convinced by Bitbond. Funnily enough, we only became aware of Bitbond by accident, but immediately knew – This is the right one for us! – We particularly like the fact that a borrowers eBay feedback plays a significant factor in Bitbond’s credit rating.
Borrower’s are judged by their eBay shop’s feedback, a feature that has been quite beneficial for us, due to our high positive feedback ratings. Not only is this a good way to assess the creditworthiness of online sellers, but it also much better than the vague and almost arbitrary ratings and interest rates handed out by bankers.
Bitbond: Cool answer! We agree that the bank loans can be confusing and arbitrary at the best of times. Could you go into a little detail about how you will be using your small business loan?
With pleasure. Schleifenparadies is currently experiencing a significant surge in customer demand. Simply because we are becoming more well-known by the day. As a result, we need to increase the number of ribbons and bows we produce and sell to our customers, in order to keep up with booming demand.
In order to make the most of this opportunity, we need to be able to buy our products before the orders are placed, in order to keep up with demand, and fulfill orders as quickly as possible. Otherwise, we would have to wait for the payment before being able to start fulfilling the order. A long and time-consuming process.
Additionally, Spring has historically been a very good season for us, and we want to take advantage of the seasonal increase in demand. So on top of the steady and significant growth we are experiencing due to our quality products and rising reputation, we also want to take advantage of the end of winter, and the seasonal growth in demand for ribbons and bows.
So in short, our Bitbond loan will be used to finance the purchase of stock and pay for new labour.
Bitbond: I can definitely comprehend why Spring is a good month for gifts and gift wrapping essentials like bows and ribbons. Cool. How long precisely have you been an eBay seller and running Schleifenparadies?
Schleifenparadies has been online since 2012. As mentioned previously, we noticed that there was a severe lack of supply in this industry and decided to take advantage of a great opportunity. But even we have been blown away by the success of our store.
Bitbond: What is the size of your business? Do you have employees or do you work alone?
At the moment there are three of us. I am in charge, while my son and an employee help me run the business. From September to Christmas is a particularly good period for us, so we hire 4 temporary workers to help us keep up with demand, during that time. It’s important to note at this point, that fair and equitable treatment of employees is very important to me, and everyone earns significantly above the minimum.
Bitbond: That is awesome. Happy employees are good employees. Do you think bitcoin will become more prominent in the coming years? Do you enjoy interacting with the cryptocurrency or is it simply a means to an end.
At the moment it is a means to an end for me, but I genuinely believe in bitcoin’s huge potential. When I see companies like Tesla, Microsoft, Amazon and Expedia accept bitcoin as a payment method, it becomes clear that bitcoin will become more prominent as the mainstream becomes more familiar with it.
And even if bitcoin fails to establish itself in the next couple of years, I am convinced that a similar digital currency will. On the one hand, because in our digital age, people value privacy more highly than ever. Bitcoin’s anonymity holds a particular appeal in this regard.
On the other hand, I believe that our global, digital economy, requires global and digital money. Because bitcoin is both of those things, while being user friendly, it will begin to play a bigger and bigger part in the world of tomorrow. I see this particularly in eCommerce and online gaming in the near future. But across many verticals in the not-so-distant future.
You can invest in Gabriele’s bitcoin loan for 8 more days!
Latest posts by Chris Grundy (see all)
- 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
- 7 Tools Your Online Business Needs for a Super-Productive 2018 - January 19, 2018