We are very lucky this week to chat with Bitbond borrower Maci. She is an Indiana (U.S.) based eBay powerseller, who is asking for a $7,871 eCommerce loan to grow her business. Investors can only place bids for 2 more days as the loan will expire then. Maci is already 61% funded, so will receive a loan on Bitbond regardless, but at 22.61% p.a. and a great B-rating, this loan still has a lot of potential for investors.
Without further ado, let’s get into the interview!
B: Hi Maci, thank you very much for taking the time to talk to us. Can you start off by telling us about your business? If so, what kind of business is it and what should investors know about it?
M: I have a small business on eBay that currently is specializing in the resale of women’s clothing. I have been in business approximately 2 years. I currently have 100% positive feedback with many repeat customers and followers.
B: How come you ended up starting this business and why have you chosen this particularly niche?
M: My son had just went through another amazing growth spurt and I was purging the clothes that were now too small from his closet when I noticed that a lot of these clothes were still in awesome shape! I had been kicking a few ideas around for quite some time as a means to generate additional income. I do also work a full time job and am a single mom so anything I decided on would have to be home based. After cleaning out our closets I decided to give it a chance.
B: What do you hope to achieve with your loan and why did you choose Bitbond over a bank?
M: My goal is to continue to grow as a small business while maintaining positive feedback. Over the course of the last two years I have learned a lot. My loan is for working capital to help push me to that next level of success in my small business. I chose Bitbond because I am very intrigued with Bitcoin and loved the idea of my peers reaping the benefits of my loan versus a traditional bank! As a small business selling pre owned clothing I do not have anything that the bank would consider collateral.
B: What is your favorite feature on Bitbond? What features do you think are missing?
M: I think Bitbond is a great community and I love that you can follow users and check out their portfolios of current investments and loans. I also love the simplicity of the entire process and the excitement of watching your loan get funded.
Currency exchange can be very confusing and Bitbond has allowed international p2p investing and borrowing thru a simplified process using Bitcoin. Love it! I would like to see Bitbond offer a 24 month loan as an option. I also would like to see Bitbond have a way to contact members directly via an instant chat or message center.
B: What would you want potential investors to know about your loan?
M: My working capital loan is going to be used for the purchase of inventory. I like to keep my listings between 500 and 600 items at any given time. With the increase in business I have now dwindled down to 350 items and need to do a massive restock. I took the last six months of business and averaged them for approximate monthly sales of 3k and 300 mailed items.
Since I have now been in business for two years I have a better understanding of what my customers want and what sells. I am currently going through a major sale to get rid of older items that have not sold to make room for the start of the holiday season which is not far at all. In addition to women’s tops, intimates, swimsuits and dresses I would like to expand back into children’s clothing, women’s pants, skirts and dresses.
B: 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?
M: I think Bitcoin will continue to grow and increase in value. I had not known much about Bitcoin until the last few months and I personally became totally intrigued. I was also surprised to find that many of my friends knew about Bitcoin as well.
B: As a business owner or an employee, does your place of work accept bitcoin? If not, what do are the chances of that changing?
M: At this time my business does not accept Bitcoin as a method of payment. Since my business is thru eBay with payments only being accepted by PayPal it is not possible at this time. I would love to see PayPal establish a working relationship with a Bitcoin affiliate.
Thank you so much for the interview Maci.
Thanks for reading and stay tuned for another borrower interview next week!