The Inventory-based Business interface has been designed for small companies whose primary business is sales of products from stock. This Inventory-based Business interface assumes a non-departmentalized operation, where the same personnel may handle several aspects of the system.

Pay day loans don't really serve the purpose..

And as tempting as "Big John" sounds, I have no interest in pursuing illegal activity.

I'm more looking for direction with something Angel Investors and their common practices when it comes to bad credit entrepreneurs with a proven business direction.

Preferably something local to the GTA

Footloose I would love to meet Big John. I need a loan for vacation and some for a funeral. Just in case. lol

I can think of 2 companies that are only too happy to lend you money without a credit check. One of them, I believe, is called a "payday loan company" and they can loan you up to $1,500 for 2 weeks at a time and they're perfectly legal because they are regulated by the Payday Loans Act and supporting Regulations. And the nice thing about these companies is they can't charge you more than $21 for every $100 you borrow because the Ministry of Consumer Affairs makes sure of that. That kinda works out to about 546% APR which is a "hell of a deal" considering they don't do a credit check. OOPS.....................I forgot. They only lend money to consumers who are employees and they require that you leave them a post-dated cheque. And what if the cheque "bounces"? Well, they kinda thought about that too. Some of the more, well, shall we say "unscrupulous" payday lenders request that you sign a "volunteer wage assignment", which I hear by way of the grapevine is illegal. under the Ontario Wages Act and the Employment Standards Act. Well, I wouldn't know much about that, but what the heck, I guess if your cheque "bounces" you really do owe them money so, I guess a "voluntary wage assignment" is probably O.K.

I also have a buddy, well, he goes by the name "Big John" and he's very friendly and likable. He tells me that he is a Finance Officer with an organization called "Hell's Angels" and they too make loans without a credit check. He tells me that no loan is too big for his organization. That sure beats "Payday Loan Companies" who can only lend a maximum of $1.500. That's good to know. And the nice thing about dealing with "Big John" is he really believes in customer service. He will come right to your residence or place of business with the money and you don't even have to give him a post-dated cheque or sign any papers like a "voluntary wage assignment". Not only that, he will come right to your door each month to pick up your monthly payment, preferably in cash. He tells me that if a customer is late in making the monthly payment, his organization never uses a collection agency to collect a debt. NAW........................that's for amateurs. He likes to use the direct personal approach ( no third parties ). He carries his own baseball bat with him and when a customer is, say "delinquent", he issues a friendly reminder that the monthly payment is due by giving the customer a "rap on the kneecap" to get the customer's attention. Usually, that only has to happen once I don't know what the APR is that his organization charges, but, what the heck, with service like this, who cares.

If I can be of further service, don't hesitate to contact me. I can probably direct you to a local "Payday Loans Office" or better still, introduce you to my friend, "Big John".

-------------------------------------------------------------------------------------
Educating one Consumer at a time

Are there any companies out there that lend money for inventory based businesses without credit checks?

I'm looking to borrow some money, I currently make approx 40% cash on cash return... but my overhead is eating up two thirds of that!

I can expand my inventory without much change to overhead but cashflow short, and credit is not good due to some poor decisions made quite a few years ago.

I know it's probably a long shot, if anybody has any suggestions please advise me. I'm willing to pay higher rates, but nothing ludicrous (12%-18%). And it is quite possible to put a lien against my inventory although I don't know how practical it would be, so not sure if this is considered unsecured or secured.

Thanks in advance.