LPPC
Bronze Contributor
User Power
Value/Post Ratio
85%
- Mar 6, 2016
- 394
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Hi all,
I'm running my own e-commerce business. I built up a nice amount of capital over the years and since a week ago I've put almost all into crypto. This means that I have very little capital left to buy stock for my business. I'm aware of the risks that come with crypto..
Because of that I'm looking to apply for a business loan. The thing I'm afraid of is that the bank will reject it if I tell them that I invested the money in crypto. I don't think banks (here in The Netherlands) are too fond of crypto. Because I assume they will ask me why I transferred all that money to my personal bank account (to then put it into Crypto) when I apply for the loan.
So the loan will be strictly to buy inventory with. Does anyone have an idea to circumvent them from knowing that I invested my own money into crypto? I don't think it's fair that they would reject it because they themselves don't believe in crypto.
Any clever answers you guys can come up with?
I could say I invested in the stock market or gold instead, but wouldn't they ask for proof of that? Or maybe I should say that I'm looking to import a new product and I need extra capital for that. Again, I don't know what they will ask or whether they need proof and such.
Thanks in advance.
I'm running my own e-commerce business. I built up a nice amount of capital over the years and since a week ago I've put almost all into crypto. This means that I have very little capital left to buy stock for my business. I'm aware of the risks that come with crypto..
Because of that I'm looking to apply for a business loan. The thing I'm afraid of is that the bank will reject it if I tell them that I invested the money in crypto. I don't think banks (here in The Netherlands) are too fond of crypto. Because I assume they will ask me why I transferred all that money to my personal bank account (to then put it into Crypto) when I apply for the loan.
So the loan will be strictly to buy inventory with. Does anyone have an idea to circumvent them from knowing that I invested my own money into crypto? I don't think it's fair that they would reject it because they themselves don't believe in crypto.
Any clever answers you guys can come up with?
I could say I invested in the stock market or gold instead, but wouldn't they ask for proof of that? Or maybe I should say that I'm looking to import a new product and I need extra capital for that. Again, I don't know what they will ask or whether they need proof and such.
Thanks in advance.
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