Over at the Free State Project Professional Networking Group (at LinkedIn) we’re talking about how to foment more opportunities for early movers to make money. One gentleman had this idea (see below). And we’re looking for ideas, comments, feedback – anything that might come to mind. Thanks!
I’m looking for some funding to make some improvements to my business. I know some other Freestater folks who are looking for the same, and there are always folks moving here who might need help getting off the ground.
One thought I’ve had is that folks who have not yet made the move, could still be involved by providing small business loans to folks who are already here in NH. Interest earned on such loans could become part of the investors’ moving funds, for when they are ready to make the move, themselves (just as one example of how it might help them).
Many such businesses are small enough that it would not take much capital to make major improvements. I could do some significant improvements for $30k, most of what I want to do for $75k, and everything I think realistic for $100k. Those are numbers that can be broken down into small loans quite easily, making it practical for small-scale investors. It seems to me that the other businesses which need funds are probably in a similar or smaller boat, so we’re talking half a million or less in total need. Probably only a quarter million.
There are thousands of FSP members who have not moved, so if even a small fraction of them were willing to invest $1k, $5k, or something similar, a large number could be reached, very easily.
Obviously, I have a stake in this, but I really do think that it’s an excellent way for folks to get involved, prior to moving. And having a “tie” to NH, plus some added income from interest on loans, would likely encourage them to move sooner. Even if it couldn’t change their move date, if business picks up, many of us who are here would be able to dedicate more time to activism, versus staying afloat.
So, I guess the discussion is whether folks think this is practical and how they think it would be best to reach out to potential investors…
Thoughts, comments, suggestions?
Feel free to comment below, at the original thread on LinkedIn (if you’re a member there) or at the FSP forums.
Photo credit: epicharmus. Photo license.
7 replies on “Micro-Loans for Free Stater Businesses?”
A couple ideas suggested by someone on Facebook:
– create a listing of FSPer businesses/ forum for business plan presentations somewhere
– Host an annual forum, along the lines of “invest northwest” or the various “venture forums” where FSP business people could pitch their projects/ business plans.
Interesting idea. Another thing that would be useful might be a directory of FSP businesses that sell online.
Great idea! Apparently there are a couple but I wasn’t entirely satisfied with either. And I’m not sure if any FSPer businesses sell online. Definitely something to work on. Thanks Matt!
http://www.nhunderground.com/wiki/tiki-index.php?page=Porcupine+Business+Directory
http://dontpatronize.info/
I liberty loving business directory wouldn’t necessarily have to be limited to NH either…
http://www.alfgonline.com/programs.html – We do business loans, and would love to reinvest the money in either one of the Free State Projects (NH or WY). It has gotten harder for us to arrange loans from banks without any tax information, but it still might be occasionally doable, given a good credit score. Email: [email protected]
Of course, let’s face it, the paper money that is the basis of our system is destined to become FUBAR. It’s anyone’s guess (if by “anyone”, you mean “G. Edward Griffin”) how this will play out. Those who hold loans of companies that go under (due to the devalued currency) will likely hold the claim of their property only by rejecting Federal force of arms, when unpaid mortgages are nationalized. For those unfamiliar with the nature of the banking crisis, I recommend the book “The Creature From Jekyll Island: A Second Look at the Federal Reserve”.
Peace (through superior firepower).
-Jake
Thank you Jake, I will pass that along. :)
My pet project is the creation of affordable homes and apartment complexes (especially the latter) near Keene (but not in it due to the property tax) using cargotecture building methods. This is a growing business, especially in this economic climate, wherein the 1.7 million ISO containers shipped from overseas and sitting in ports gathering dust are used in quick, low-cost, super-sturdy construction of buildings. Even with the sides cut out, a container (made of Corten steel) can withstand 300lbs of pressure per square inch. It’s also resistant to fire, mold, termites, winds up to 175mph, water, tornadoes, hurricanes and earthquakes. They can be stacked 9 high, bolted and welded, for large structures. And by the time you’re done with the interior and exterior, no one can visually tell the difference between a normal building and a container building unless you want them to. We could use more places to stay in New Hampshire, especially affordable apartments and homes. Huge demand in and around Keene what with the Free Staters and the college kids. I saw recently that Tata Motors (creators of the world’s cheapest car) are now getting into similar buildings (albeit not cargotecture) to support the teeming masses in India. They intend to go global in a few years. Getting in on this now might be a good idea. Alas, I have no investment capital or I’d be in NH now working on this.