Peter Matos
Newburgh, NY (USA)
Role(s):
Other
Stardust Importing
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Startup
Location:
Newburgh
Industry:
Wholesale
Year Founded:
2010
Number Employees:
1-10 people
Business Stage:
Growth (profitable)
Entity Type:
"S" Corporation
Description:
We are a small company that has imported from Asia to JFK, NY. Our clients are asking for more product.
We are seeking money to import more product.
We were thinking of giving a lender a participation in the shipment. Our thought was to offer a 20% return on the loan which would be paid back in 40-45 days. (The mark-up is approximately 100% so it works out to 20% of the profit as well.)
During this early phase we are very happy sharing the profits.
We will document all steps of the transaction; commercial invoice, wire transfer to Asia, airway bill, and receipt of goods through an attorney.
We are seeking a maximum of $20,000, as we have customers that can take that much volume. (2 shipments, 1 week apart)
After the lender gets repaid... If they want to help us with the next month's shipments we would welcome the help. In the next month we forecast we can increase business by 40%.
The shipments are insured (costs 2% and is included).
While the goods being brought in are an asset that you can lend against, in reality we understand that having goods at JFK and no contacts in the industry is not necessarily a great asset. But they are available.
We would like to move fast to take advantage of the Holiday Season and late winter seasons. But, will give you the time to do any and all due-diligence that you need to.
20% over 45 days is approximately a 180% annual interest rate.