Author Topic: ATM Business Loan  (Read 11899 times)

midnight302

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ATM Business Loan
« on: December 29, 2014, 09:16:50 PM »
Hello group,

My name is Jason Craven. I have applied for a loan on Lending Club.  I just wanted to introduce myself and hope to find some investors.   I'm a 16 year Air Force Member as my main job. Six years ago I got into the ATM Machine Business. I currently own one machine located in a Shell gas station. This machine makes a average of $500 profit a month in surcharge withdraws. Each Machine Cost $2000 and requires me to fill it. I normally fill it with $2,000 twice a week in which it is returned back to my account plus my surcharge Profit.

Due to my new position I will not be deploying to Iraq or Afgan anymore so I would like to expand my business. I'm looking to buy 3 more Atms with a cost of $6000 and $6000 to help keep them filled. I currently have lined up a locations for all 3 machines.  They are ready to be put online as soon as I receive financing.

 I calculated a  conservative monthly revenue estimate of $1400 from all 3 machines.  My loan amount is for $12800 I have a perfect Credit history 0 Late charges and a score near 770 which I know can swing depending on what you pull it from. MY DTI seems high but does not factor in my wife's income. Thank you for considering my Loan.  38555540

lascott

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Re: ATM Business Loan
« Reply #1 on: December 29, 2014, 09:34:23 PM »
Best of luck in your new adventure. Sounds like a reasonable deal.

Do you also have rental properties? I'm just trying to reconcile the 4 mortgage accounts listed in the graphic below.

« Last Edit: December 29, 2014, 09:44:32 PM by lascott »
Tools I use: (main) BlueVestment: https://www.bluevestment.com/app/pricing + https://www.interestradar.com/ , (others) Lending Robot referral link: https://www.lendingrobot.com/ref/scott473/  & Peercube referral code: DFVA9Y

Fred93

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Re: ATM Business Loan
« Reply #2 on: December 29, 2014, 09:40:32 PM »
That loan will fund quickly with no problems.

Interesting to hear about the ATM business.  I had no idea one could own ATM machines.  I guess its like any other vending machine business!  Thanks for sharing.

Lovinglifestyle

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Re: ATM Business Loan
« Reply #3 on: December 29, 2014, 09:56:41 PM »
I decided to invest.  Am also curious about the 4 mortgages.  Glad you reached out to the forum, and good luck with the venture!

AnilG

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Re: ATM Business Loan
« Reply #4 on: December 29, 2014, 10:17:43 PM »
ATM business can be lucrative as long as you can find good locations with lots of foot traffic. But such locations tend to be already occupied and expensive.

Good luck with your loan. If you really like ATM business, you may also want to investigate vending machine business. As long as you don't mind going on a route filling your ATM and vending machines, it can be a good lifestyle business.
---
Anil Gupta
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midnight302

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Re: ATM Business Loan
« Reply #5 on: December 29, 2014, 11:37:26 PM »
I reached 100%  Thank you!
I have one mortgage.  The others showing were a refinance. One to drop my rate from 5% down to 3%  then I had to refinance again about a year later to get the house out of my Ex wifes name after divorce. For those that invested in me thanks again.  I have managed 16 years of never missing a payment on anything and don't plan to start. Even if all the ATM's caught fire and died I still have the funds to cover my loan.  I'm lucky enough not to have a over saturated ATM market here. Plus locations are already found.  Thanks again!

Lovinglifestyle

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Re: ATM Business Loan
« Reply #6 on: December 30, 2014, 11:29:32 AM »
It's a real treat to hear personal details from a borrower--puts the "people" part back into  lending!  Reading your own story is so much better than the imagination those of us interested in the real thing have to use now.  The mortgage-counting information is truly enlightening.  Thanks a lot.  Glad you're funded!

lascott

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Re: ATM Business Loan
« Reply #7 on: December 30, 2014, 12:27:39 PM »
I reached 100%  Thank you!
I have one mortgage.  The others showing were a refinance. One to drop my rate from 5% down to 3%  then I had to refinance again about a year later to get the house out of my Ex wifes name after divorce. For those that invested in me thanks again.  I have managed 16 years of never missing a payment on anything and don't plan to start. Even if all the ATM's caught fire and died I still have the funds to cover my loan.  I'm lucky enough not to have a over saturated ATM market here. Plus locations are already found.  Thanks again!
Thanks for the explanation(s).  You are nearly a perfect borrower. Best of luck and may you have a great 2015.
Tools I use: (main) BlueVestment: https://www.bluevestment.com/app/pricing + https://www.interestradar.com/ , (others) Lending Robot referral link: https://www.lendingrobot.com/ref/scott473/  & Peercube referral code: DFVA9Y

Victor

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Re: ATM Business Loan
« Reply #8 on: December 30, 2014, 09:18:40 PM »
It's a real treat to hear personal details from a borrower--puts the "people" part back into  lending!  Reading your own story is so much better than the imagination those of us interested in the real thing have to use now.  The mortgage-counting information is truly enlightening.  Thanks a lot.  Glad you're funded!

Glad you got your loan funded

I miss the Q&A and borrower comments section of the loan.  Granted many loans don't hang around long enough for it to matter much.

brycemason

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Re: ATM Business Loan
« Reply #9 on: December 31, 2014, 03:09:01 AM »
IT WOULD HAVE BEEN FUN TO HAVE THE USMC RETIRED LENDER WEIGH IN ON THIS.

RazzleDazzle

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Re: ATM Business Loan
« Reply #10 on: December 31, 2014, 07:40:16 PM »
ATM business can be lucrative as long as you can find good locations with lots of foot traffic. But such locations tend to be already occupied and expensive.

Good luck with your loan. If you really like ATM business, you may also want to investigate vending machine business. As long as you don't mind going on a route filling your ATM and vending machines, it can be a good lifestyle business.

Well said Anil. Personally know atleast 5 people who are making a "killing" in the ATM business. They are incumbent though. Tough to break into it now in their "region"

DanB

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Re: ATM Business Loan
« Reply #11 on: December 31, 2014, 09:19:28 PM »
IT WOULD HAVE BEEN FUN TO HAVE THE USMC RETIRED LENDER WEIGH IN ON THIS.

Fun for whom? I know some lenders who wouldn't be caught dead acting like him, nevertheless actually admired his supposed tenacity & commented as to what a terrific service he was doing for the community at catching borrowers in lies etc etc. Well his incessant questions sure did annoy  some borrowers...............mostly borrowers who either weren't smart enough to write smart logical lies or smart enough to realize that they could just ignore him & no other lender would even realize that the man had been asking questions & was being ignored.  That was the only part that amused me.

oreo1981

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Re: ATM Business Loan
« Reply #12 on: January 07, 2015, 04:40:28 PM »
Good luck with your atm route.

I see atm routes for sale often here in my area.

I have a potato chip route so I check craigslist and other sites online 3x a week to see if anyone is selling so I can purchase the rights to distribute to a major supermarket or two off them

neals384

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Re: ATM Business Loan
« Reply #13 on: January 09, 2015, 12:43:31 AM »

I have a potato chip route

Gosh, Oreo, I had you pegged for a cookie route ;D

delereini

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Re: ATM Business Loan
« Reply #14 on: August 31, 2019, 06:51:23 AM »
You will know within minutes whether or not you have been approved. If you proceed with the loan, the 3rd party loan provider will work on your behalf to secure multiple revolving Credit Cards (up to ten) with varying amounts of credit. The total available line of credit could be between $25,000 and $100,000 based on your creditworthiness.