Total loan: $6,000
Tacoma, WA, United States / Entertainment
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Adam's loan finished fundraising,
but these similar borrowers just need a little more help to reach their goals!
A loan helped a disabled-owned VR company push boundaries and create solutions for an ever-emerging technology.
"Loans are for people with money." That was a banker's reply when I tried to get a loan to start my business three years ago. A year later, my grandmother passed away, leaving me $3,000 to start my business. The last thing she said to me was, "Stop being afraid." It was this final wish which emboldened me to continue fighting for my dream. I saved that $3,000, and sold most of my personal belongings to raise my own start-up money, and managed to make those funds stretch for the next year. In addition, I completed a business plan so thorough that several banks and the city told me it was the most comprehensive and well-researched plan they had ever seen. I was still trying to work with a bank to obtain a business loan. Through the inheritance, selling my things, and saving every penny, I built up the 10% equity required. Unfortunately, I was denied the loan. I was told the problem wasn't my business plan or equity. It was because I'm considered to be in poverty. I was told I had to have revenue going through my account before they would consider lending me money to start the business, as well as a guarantor to sign on. As it stands today, I have applied for multiple loans, made a pitch to a venture capitalist, and tried to find a guarantor. Every attempt failed. I believe in the potential benefit my business could have to my community, as well as the world of VR, and that a person can reach their goals despite facing adversity. However, sometimes a person needs support. With your support, I could help prove to the world that even a poor, disabled, possibly crazy guy can make his even crazier dream come true.