[eekosmembers] Re: Money for eekos Gambia options
- From: "Don" <dyates@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxx>
- To: <eekosmembers@xxxxxxxxxxxxx>
- Date: Wed, 28 Feb 2007 06:23:01 -0800
Any method that requires personal loans of any form are, to me, absolutely
out! You do not have to add that to everything else on your mind. I think
the only realistic way is Angel money. For this, though, I would go for a
sum that you believe will get the whole business up and running. Angels
[personal investors] understand this approach. However, you do have to think
about an exit strategy for them to make money at some reasonable time. This
in a sense a loan but without any legal obligation unless there is a return.
A similar route would be venture capital. There is a great deal of interest
in the green movement over here. Problem with this is that they absolutely
want to see an exit strategy that will make them a bundle. This is a very
expensive route - I sometimes call them vulture capitalists.
Question is how to reach either group. This might seem a bit of a stretch,
but I would do whatever it takes [and it may not be too much] to get hold of
Al Gore. He is the center of the green world at the moment. I cannot think
that he has not thought a great deal about how people can fund projects. You
would need to show your various products or processes and how much they will
help the greening of our world.
Don
_____
From: eekosmembers-bounce@xxxxxxxxxxxxx
[mailto:eekosmembers-bounce@xxxxxxxxxxxxx] On Behalf Of Kevin Ison
Sent: Monday, February 26, 2007 5:51 AM
To: Members email list
Subject: [eekosmembers] Money for eekos Gambia options
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?
<http://www.eekos.com/email_logo.gif>
Kevin Ison
eekos Limited
The Old Hackfall
Grewelthorpe
HG4 3BW
Company Number - 5504935
www.eekos.com
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