[eekosmembers] Money for eekos Gambia options
- From: "Kevin Ison" <kevin@xxxxxxxxx>
- To: "Members email list" <eekosmembers@xxxxxxxxxxxxx>
- Date: Mon, 26 Feb 2007 13:50:37 -0000
OPTIONS FOR GETTING START UP MONEY
As explained, this is eekos Gambia and no need for any at this stage for UK.
Oscar assures me that they can do even more than 1 bore per month and that
there is a bore that a man wants to start immediately, so we need to get the
money for the bore equipment out to them as soon as possible.
We aren't talking a lot here in UK terms and if all goes well, it will not be
over along period as the income from bores is good and repayments to the loan
can be make early.
But of course, anything could happen (stolen gear, money, health problems, red
tape etc) so we need to have more than we think we will need.
It looks like having the ability to obtain £1500 (d75000) would be comfortable.
This amount does not need to be sent over, just have available.
Here are the options to get it;
1/ - I fund it. As I don't have the money in the bank, but do have credit cards
and flexible loans set up, the best I
can get at the moment is the £1500 at 10% per annum. In theory this is just a
10 minute transfer. In practice it requires the
co authority of my wife, which is a difficult process as she is not happy that
eekos has cost so much in the past and there is no wages from it for me at the
moment. She is understandably reluctant to agree to any of the family money
being used.
2/ - All of us send in what money we can.
2/ - I fund it, but Other members act as guarantors. That is, they agree to
repay it if it is not paid back. This would be restricted to Jamie and myself
really and perhaps Ian.
This would be an informal or formal agreement to help pay the loan if it was
not paid back by the guys in Gambia.
3/ - Bank. Our bank will not give us any money as we have not got any
consistent track record, so that is out.
4/ - ethical banks - Triodos is an ethical bank that makes loans for businesses
such as ours. I have emailed them to see what they have to offer us.
5/ - Benefactor. Another person who is wealthy and like what we are doing. They
could also act as guarantor for a loan and that way, then do not have to supply
the money themselves, just pay off the loan if it not paid of.
6/ - Try to use customers deposits for bores and building work. It can be done,
but it is not a good way to do business and their would be many problems if
something goes wrong and the work is not done.
Funding a democratic business has many questions about whose responsibility it
is, how to share that responsibility and what is the payment for individuals
who do bear responsibility and others. But as this is not a huge amount, we
should be able to sort it out quickly without too much discussion.
What do you think?
Kevin Ison
eekos Limited
The Old Hackfall
Grewelthorpe
HG4 3BW
Company Number - 5504935
www.eekos.com
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