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murchr
#11 Posted : Thursday, October 01, 2015 8:18:04 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
So now where are you? @kazikwisha
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Dawnwoods
#12 Posted : Friday, October 02, 2015 12:20:23 AM
Rank: New-farer

Joined: 5/22/2014
Posts: 56
What kind of Transportation? Transit long Haul?
How much in figures do you owe?
What is the current asset base on tangible and intangibles?
How many owners?
Did you have contracts? How long?
How much would you need to recuperate?
Where are you located?
How many employees do you have?
Why are you looking for a financial institution instead of an investor?
Articles of association?
Say more...the more you say, the more you get solid answers.
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kayhara
#13 Posted : Friday, October 02, 2015 8:10:39 PM
Rank: Veteran

Joined: 5/5/2011
Posts: 1,059
Talk to your bank they will pay off all your debts and then negotiate better terms with them and if your cash flow is healthy enough you might get up to 15% and 60 months repayment
To Each His Own
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kayhara
#14 Posted : Friday, October 02, 2015 8:12:25 PM
Rank: Veteran

Joined: 5/5/2011
Posts: 1,059
Talk to your bank they will pay off all your debts and then negotiate better terms with them and if your cash flow is healthy enough you might get up to 15% and 60 months repayment
To Each His Own
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S.Mutaga III
#15 Posted : Saturday, October 03, 2015 11:48:35 PM
Rank: Member

Joined: 3/26/2012
Posts: 830
sparkly wrote:
FRM2011 wrote:
Jon Jones wrote:
Are you serious? 10% per month? You surely need financial education. Even a form four leaver knows that you got a very bad deal...the worst I have ever seen. Declare bankruptcy, liquidate assets, pay all creditors and start afresh without those serious and stupid mistakes.



This was uncalled for. Kazikwisha came here looking for help but you have already decided he is too daft to do business.

@kazikwisha, you need to tell us something about the business model. Are you making cash ? If yes, then your problems can be resolved easily.


Bankruptcy protection is actually very sound advice. Working to service a 10%pm debt is slavery.

You have to quit being a slave. I believe you should declare bankruptcy or at least terminate the business arrangement with your friends and family. They will be very unhappy with that decision, but you cant continue making losses to please them. The terms of that loan/s were bad and unsustainable.
A successful man is not he who gets the best, it is he who makes the best from what he gets.
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Taurrus
#16 Posted : Wednesday, October 07, 2015 6:06:02 PM
Rank: Member

Joined: 8/25/2015
Posts: 839
Location: Kite
S.Mutaga III wrote:
sparkly wrote:
FRM2011 wrote:
Jon Jones wrote:
Are you serious? 10% per month? You surely need financial education. Even a form four leaver knows that you got a very bad deal...the worst I have ever seen. Declare bankruptcy, liquidate assets, pay all creditors and start afresh without those serious and stupid mistakes.



This was uncalled for. Kazikwisha came here looking for help but you have already decided he is too daft to do business.

@kazikwisha, you need to tell us something about the business model. Are you making cash ? If yes, then your problems can be resolved easily.


Bankruptcy protection is actually very sound advice. Working to service a 10%pm debt is slavery.

You have to quit being a slave. I believe you should declare bankruptcy or at least terminate the business arrangement with your friends and family. They will be very unhappy with that decision, but you cant continue making losses to please them. The terms of that loan/s were bad and unsustainable.

kae weitire man! mathena ne marume!
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Boris Boyka
#17 Posted : Friday, October 09, 2015 8:41:16 PM
Rank: Veteran

Joined: 11/15/2013
Posts: 1,977
Location: Here
Swenani wrote:
willin2learn wrote:
kazikwisha wrote:
HellO Good People,

I am looking for some wise words from members of this forum. How do i get my firm out of debt. We are a transport firm that has been in operations for the last three years. like any start up the firm raised cash through friends and family at ridiculous returns (10%) per month. Now this debt is killing the business and we seriously need a way out.
My question to the group is
1.Can i get some help on restructuring?.
2. What financial institutions are out there that we can work with to grow?.
3.Is selling equity an option and how do i make it an attractive venture with my heavy debt portfolio?.


For starters, Assuming you have been banking, i would advise you sit down with your banker have your cashflow analysed and take a bank loan at around 1.5% per month saving you about 8.5% interest per month. Then pay off the rela vultures


Why 8.5% p.m when he can take a loan at 17% p.a?

@Swenani did you understand the statement? 1.5% monthly = 18% p.a. The 8.5% is what he'll save.
Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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